Net income was $501.500 in 2020, $491,000 in 2021, and $523.500 in 2022. What is the percentage of change from (a) 2020 to 2021, and (b) from 2021 to 2022? Is the change an increase or a decrease? (If amount and percentage are a decrease show the numbers as negative, es. -55.000, -20% or (55,000), (20%). Round percentages to 0 decimal places, es. 12%.) Amount Percentage (a) 2020-2021 -10,500 Decrease: -4 (b) 2021-2022 %24 32.500 11 Increase :

Net income was $501.500 in 2020, $491,000 in 2021, and $523.500 in 2022. What is the percentage of change from (a) 2020 to 2021, and (b) from 2021 to 2022? Is the change an increase or a decrease? (If amount and percentage are a decrease show the numbers as negative, es. -55.000, -20% or (55,000), (20%). Round percentages to 0 decimal places, es. 12%.) Amount Percentage (a) 2020-2021 -10,500 Decrease: -4 (b) 2021-2022 %24 32.500 11 Increase :

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

Net income was $501,500 in 2020, $491,000 in 2021, and $523,500 in 2022. What is the percentage of change from (a) 2020 to 2021,
and (b) from 2021 to 2022? 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, es. 12%.)
Amount
Percentage
(a)
2020-2021
%24
-10,500
-4
Decrease:
(b)
2021-2022
32.500
11
Increase :

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