Calculating trend analysisMuscateer Corp reported the following revenues and net income amounts:RequirementsCalculate Muscateer’s trend analysis for revenues and net income Use 2016 as the base year and round to the nearest percent.Which measure increased at a higher rate during 2017-2019? (In millions)2019201820162017Revenue$ 9,610$ 9,3556,790$ 9,0505,020$ 8,9504,300Net Income7,290

Requirement 1: Compute the trend in revenue.

Answered: (In millions) 2019 2018 2016 2017…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculating trend analysis

Muscateer Corp reported the following revenues and net income amounts:

Requirements

Calculate Muscateer’s trend analysis for revenues and net income Use 2016 as the base year and round to the nearest percent.
Which measure increased at a higher rate during 2017-2019?

(In millions)
2019
2018
2016
2017
Revenue
$ 9,610
$ 9,355
6,790
$ 9,050
5,020
$ 8,950
4,300
Net Income
7,290

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