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Net income was $508,000 in 2020, $482,600 in 2021, and $530,860 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 O decimal places, e.g. 12%.) Amount (a) 2020-2021 $ (b) 2021-2022 $ Percentage % %

Net income was $508,000 in 2020, $482,600 in 2021, and $530,860 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 O decimal places, e.g. 12%.) Amount (a) 2020-2021 $ (b) 2021-2022 $ Percentage % %

FINANCIAL ACCOUNTING
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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Current Attempt in Progress Net income was $508,000 in 2020, $482,600 in 2021, and $530,860 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 O decimal places, e.g. 12%.) (a) 2020-2021 (b) 2021-2022 Amount Percentage % %
Transcribed Image Text:Current Attempt in Progress Net income was $508,000 in 2020, $482,600 in 2021, and $530,860 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 O decimal places, e.g. 12%.) (a) 2020-2021 (b) 2021-2022 Amount Percentage % %
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