Brief Exercise 13-6 Your answer is partially correct. Try again. Net income was $501,000 in 2015,...

Brief Exercise 13-6


	Your answer is partially correct. Try again.

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
(a)	2015–2016	$ -30000	?	%	DecreaseIncrease
(b)	2016–2017	$ 48000	?	%	DecreaseIncrease

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Expert Solution

For Trend Analysis
Amount of change = Current year amount - Base year amount
% change = (Current year amount - Base year amount) / Base year amount x 100

a	From 2015 to 2016
	Amount of change = Current year amount - Base year amount
		=	$471000-$501000
		=	$ (30,000.00)
	% change = (Current year amount - Base year amount) / Base year amount x 100
		=	(471000-501000)/501000*100
		=	-6% ---->Decrease

b	From 2016 to 2017
	Amount of change = Current year amount - Base year amount
		=	$519000-$471000
		=	$ 48,000.00
	% change = (Current year amount - Base year amount) / Base year amount x 100
		=	($519000-$471000)/$471000*100
		=	10% --->Increase

ekkarill92 answered 1 year ago

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