Table: Annual profits and expenses (in $ millions) for NovaTech Corp. from 2019 to 2022.
Year | Profits | Operating Expenses | Marketing Expenses | Research and Development (R&D) Expenses |
2019 | 50 | 30 | 10 | 5 |
2020 | 60 | 33 | 11 | 6 |
2021 | 68 | 36 | 12 | 7 |
2022 | 74 | 38 | 12 | 8 |
Examine the data presented in the table above which showcases the annual profits and expenses (in $ millions) for NovaTech Corp. from 2019 to 2022.
For each statement, select "True" if the information is accurate based on the table; otherwise, select "False."
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The highest percentage increase in profits from the previous year occurred in 2020. |
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In 2022, Research and Development (R&D) expenses accounted for 13.79% of the total expenses. |
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The smallest ratio of Profits to Operating Expenses was in 2019. |