Task: Table-QA (source dataset: FinQA)

Task: 
You are given a table containing structured data and a natural language question referring to the table. Your goal is to analyze the table and provide an accurate and concise answer based on the given data.

Instructions:
1. Understand the Table: Examine the structure, headers, and data in the table. Identify relevant columns and rows related to the question.
2. Interpret the Question: Determine whether the question requires direct retrieval, aggregation, comparison, sorting, filtering, or inference.
3. Extract the Answer: Use logical reasoning and numerical operations (if necessary) to derive the correct response from the table.
4. Format the Answer: No explanation, return the answer in a structured JSON format: {"answer": <answer>}. If the question cannot be answered due to missing or ambiguous data, return a JSON response with {"answer": null}.

Table:
| $ in billions           | average for theyear ended december 2018   | average for theyear ended december 2017   | average for theyear ended december 2016   |
|:------------------------|:------------------------------------------|:------------------------------------------|:------------------------------------------|
| alternative investments | $ 171                                     | $ 162                                     | $ 149                                     |
| equity                  | 329                                       | 292                                       | 256                                       |
| fixed income            | 665                                       | 633                                       | 578                                       |
| total long-term aus     | 1165                                      | 1087                                      | 983                                       |
| liquidity products      | 352                                       | 330                                       | 326                                       |
| total aus               | $ 1517                                    | $ 1417                                    | $ 1309                                    |

Question:
what are the pre-tax earnings in 2016 , in billions?


pre_text: the goldman sachs group , inc .
and subsidiaries management 2019s discussion and analysis in the table above , total aus net inflows/ ( outflows ) for 2017 included $ 23 billion of inflows ( $ 20 billion in long- term aus and $ 3 billion in liquidity products ) in connection with the acquisition of a portion of verus investors 2019 outsourced chief investment officer business ( verus acquisition ) and $ 5 billion of equity asset outflows in connection with the divestiture of our local australian- focused investment capabilities and fund platform ( australian divestiture ) .
the table below presents average monthly assets under supervision by asset class .
average for the year ended december $ in billions 2018 2017 2016 .
post_text: operating environment .
during 2018 , our assets under supervision increased reflecting net inflows in liquidity products , fixed income assets and equity assets .
this increase was partially offset by depreciation in our client assets , primarily in equity assets , as global equity prices generally decreased in 2018 , particularly towards the end of the year .
the mix of our average assets under supervision between long-term assets under supervision and liquidity products during 2018 was essentially unchanged compared with 2017 .
in the future , if asset prices continue to decline , or investors continue to favor assets that typically generate lower fees or investors withdraw their assets , net revenues in investment management would likely be negatively impacted .
during 2017 , investment management operated in an environment characterized by generally higher asset prices , resulting in appreciation in both equity and fixed income assets .
our long-term assets under supervision increased from net inflows primarily in fixed income and alternative investment assets .
these increases were partially offset by net outflows in liquidity products .
as a result , the mix of our average assets under supervision during 2017 shifted slightly from liquidity products to long-term assets under supervision compared to the mix at the end of 2016 .
2018 versus 2017 .
net revenues in investment management were $ 7.02 billion for 2018 , 13% ( 13 % ) higher than 2017 , primarily due to significantly higher incentive fees , as a result of harvesting .
management and other fees were also higher , reflecting higher average assets under supervision and the impact of the recently adopted revenue recognition standard , partially offset by shifts in the mix of client assets and strategies .
in addition , transaction revenues were higher .
see note 3 to the consolidated financial statements for further information about asu no .
2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d during 2018 , total assets under supervision increased $ 48 billion to $ 1.54 trillion .
long-term assets under supervision decreased $ 4 billion , including net market depreciation of $ 41 billion primarily in equity assets , largely offset by net inflows of $ 37 billion , primarily in fixed income and equity assets .
liquidity products increased $ 52 billion .
operating expenses were $ 5.27 billion for 2018 , 10% ( 10 % ) higher than 2017 , primarily due to the impact of the recently adopted revenue recognition standard and increased compensation and benefits expenses , reflecting higher net revenues .
pre-tax earnings were $ 1.76 billion in 2018 , 24% ( 24 % ) higher than 2017 .
see note 3 to the consolidated financial statements for further information about asu no .
2014-09 , 201crevenue from contracts with customers ( topic 606 ) . 201d 2017 versus 2016 .
net revenues in investment management were $ 6.22 billion for 2017 , 7% ( 7 % ) higher than 2016 , due to higher management and other fees , reflecting higher average assets under supervision , and higher transaction revenues .
during 2017 , total assets under supervision increased $ 115 billion to $ 1.49 trillion .
long-term assets under supervision increased $ 128 billion , including net market appreciation of $ 86 billion , primarily in equity and fixed income assets , and net inflows of $ 42 billion ( which includes $ 20 billion of inflows in connection with the verus acquisition and $ 5 billion of equity asset outflows in connection with the australian divestiture ) , primarily in fixed income and alternative investment assets .
liquidity products decreased $ 13 billion ( which includes $ 3 billion of inflows in connection with the verus acquisition ) .
operating expenses were $ 4.80 billion for 2017 , 3% ( 3 % ) higher than 2016 , primarily due to increased compensation and benefits expenses , reflecting higher net revenues .
pre-tax earnings were $ 1.42 billion in 2017 , 25% ( 25 % ) higher than geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region .
62 goldman sachs 2018 form 10-k .
label: 1.1360000000000001
qa: answer: 1.1
ann_text_rows: 30
steps: op: add2-1
arg1: const_1
arg2: 25%
res: 1.25
op: divide2-2
arg1: 1.42
arg2: #0
res: 1.1
program: add(const_1, 25%), divide(1.42, #0)
gold_inds: text_30: pre-tax earnings were $ 1.42 billion in 2017 , 25% ( 25 % ) higher than geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region .
exe_ans: 1.1360000000000001
tfidftopn: text_22: pre-tax earnings were $ 1.76 billion in 2018 , 24% ( 24 % ) higher than 2017 .
text_3: average for the year ended december $ in billions 2018 2017 2016 .
program_re: divide(1.42, add(const_1, 25%))
model_input: text_3
average for the year ended december $ in billions 2018 2017 2016 .
text_22
pre-tax earnings were $ 1.76 billion in 2018 , 24% ( 24 % ) higher than 2017 .
text_30
pre-tax earnings were $ 1.42 billion in 2017 , 25% ( 25 % ) higher than geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region .