Brief Exercise 13-6 Net income was $501,000 in 2015, $471,000 in 2016, and $519,

Question

Brief Exercise 13-6

Net income was $501,000 in 2015, $471,000 in 2016, and $519,000 in 2017. What is the percentage of change from (a) 2015 to 2016, and (b) from 2016 to 2017? Is the change an increase or a decrease? (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.)

Amount

Percentage

2015–2016

%

2016–2017

%

Amount

Percentage

(a)

2015–2016

$Enter an increase or decrease in dollars.

Enter an increase or decrease in percentages rounded to 0 decimal places.

%

Select between increase and decrease

DecreaseIncrease

(b)

2016–2017

$Enter an increase or decrease in dollars.

Enter an increase or decrease in percentages rounded to 0 decimal places.

%

Select between increase and decrease

DecreaseIncrease

Explanation / Answer

note:

2015 -2016 amount = ($417,000 - $501,000) =>$30,000. decrease.

percentage = decrease / previous year profit *100

=>$30,000 / 501,000 *100

=>6%...(rounded to 0 decimals)

b. 2016-2017

amount difference = $519,000 - 471,000 =>$48,000.increase

percentage change = increase / amount of previous year profit *100

=>$48,000 / 471,000 *100

=>10%....(rounded to 0 decimals).

Amount percentage a 2015-2016 -$30,000 -6% decrease b 2016-2017 $48,000 10% increase

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