Changes over Financial Years

Calculate the changes in the figures provided over the successive financial years.

Solutions

Expert Solution

The change is calculated by deducting the current year amount from the previous amount. Then the difference is shown as a percentage of the previous year value.

A positive difference means that there has been an increase, and a negative one signifies a negative one.

Particulars	2021	2022	Difference	Percentage of Change	Increase / Decrease
Accounts Receivable	$136,000	$196,900	$60,900	44.78%	Increase
Retained Earnings	-$13,500	$32,000	$45,500	337%	Increase
Sales Revenue	$734,200	$872,200	$138,000	18.8%	Increase
Operating Expenses	$200,200	$155,900	-$44,300	-22.13%	Decrease
Income Taxes Payable	$9,340	$11,020	$1,680	17.99%	Increase

Accounts Receivable: Increase 44.78%

Retained Earnings: Increase 337%

Sales Revenue: Increase 18.8%

Operating Expenses: Decrease 22.13%

Income Taxes Payable: Increase 17.99%

Soumik Mallick Choudhury answered 1 year ago

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