Problem 2 ( computing and Interpreting Rates of Change) Selected information from the financial statements of Yellow Harvest includes the following: 2020 2019 Net sales.. P2, 200,000 P2, 000,000 Total expenses. 1, 998,000 1,800,00T Required: a. Compute the percentage change in 2020 for the amounts of (1) net sales and (2) total expenses b. Using the information developed in a part a, express your opinion as to whether the company's net income for 2020: 1. Increased at a greater or lower percentage rate than did net sales. 2. Represented a larger or smaller percentage of net sales revenue than in 2019. For each answer, explain your reasoning without making any computations or references to peso amounts.

Problem 2 ( computing and Interpreting Rates of Change) Selected information from the financial statements of Yellow Harvest includes the following: 2020 2019 Net sales.. P2, 200,000 P2, 000,000 Total expenses. 1, 998,000 1,800,00T Required: a. Compute the percentage change in 2020 for the amounts of (1) net sales and (2) total expenses b. Using the information developed in a part a, express your opinion as to whether the company's net income for 2020: 1. Increased at a greater or lower percentage rate than did net sales. 2. Represented a larger or smaller percentage of net sales revenue than in 2019. For each answer, explain your reasoning without making any computations or references to peso amounts.

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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