Net income was $520,000 in 2020, $442,000 in 2021, and $525,980 in 2022. What is the percentage of change (a) from 2020 to 2021, and (b) from 2021 to 2022? Is the change an increase or a decrease? (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45). Round percentages to 1 decimal place, e.g. 12.3%.) Increase or (Decrease) Amount Percentage (a) 2020-2021 (b) 2021-2022

Net income was $520,000 in 2020, $442,000 in 2021, and $525,980 in 2022. What is the percentage of change (a) from 2020 to 2021, and (b) from 2021 to 2022? Is the change an increase or a decrease? (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses eg. (45). Round percentages to 1 decimal place, e.g. 12.3%.) Increase or (Decrease) Amount Percentage (a) 2020-2021 (b) 2021-2022

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 54CE

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