Net income was $520.000 in 2020. S452.400 in 2021, and $524,784 in 2022. What is the percentage of change (a) from 2020 to 2021. and (b) from 2021 to 2022? Is the change an increase or a decrease? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45). Round percentages to 1 decimal place, eg. 12.3%) Increase or (Decrease) Amount Percentage (a) 2020-2021 (b) 2021-2022
Net income was $520.000 in 2020. S452.400 in 2021, and $524,784 in 2022. What is the percentage of change (a) from 2020 to 2021. and (b) from 2021 to 2022? Is the change an increase or a decrease? (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses eg. (45). Round percentages to 1 decimal place, eg. 12.3%) Increase or (Decrease) Amount Percentage (a) 2020-2021 (b) 2021-2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Net income was $520,000 in 2020, $452,400 in 2021, and $524,784 in 2022. What is the percentage of change (a) from 2020 to 2021,
and (b) from 2021 to 2022? Is the change an increase or a decrease? (Enter negative amounts using either a negative sign preceding the
number e.g. -45 or parentheses eg. (45). Round percentages to 1 decimal place, eg. 12.3%.)
Increase or (Decrease)
Amount
Percentage
(a)
2020-2021
(b)
2021-2022](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F624108b6-231b-42ad-a413-1d73c7966430%2F70396b18-3d9d-402e-a13a-4699c1578428%2Fai67z89_processed.png&w=3840&q=75)
Transcribed Image Text:Net income was $520,000 in 2020, $452,400 in 2021, and $524,784 in 2022. What is the percentage of change (a) from 2020 to 2021,
and (b) from 2021 to 2022? Is the change an increase or a decrease? (Enter negative amounts using either a negative sign preceding the
number e.g. -45 or parentheses eg. (45). Round percentages to 1 decimal place, eg. 12.3%.)
Increase or (Decrease)
Amount
Percentage
(a)
2020-2021
(b)
2021-2022
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