Answered: Net income was $418,600 in 2019 and…

Net income was $418,600 in 2019 and $364,000 in 2020. The year-to-year change in net income is: Multiple Choice $54,600 decrease. $364,000. $54,600 increase. $418,600.

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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Question

Net income was $418,600 in 2019 and $364,000 in 2020. The year-to-year change in net income is:
Multiple Choice
$54,600 decrease.
$364,000.
$54,600 increase.
$418,600.

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