Using data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02)% Operating Expenses 789,795 570,245 Operating Income 7,997 244,207 38.50 2,953.73 % % Net Income 14,553 191,960 (92.42) %

Using data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02)% Operating Expenses 789,795 570,245 Operating Income 7,997 244,207 38.50 2,953.73 % % Net Income 14,553 191,960 (92.42) %

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

Using data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be
rounded to two decimals (e.g., 12.77%).
> Answer is complete but not entirely correct.
2021
2020
2020-2021
Revenue
2,057,622
1,736,432
18.50
%
Cost of Goods Sold
1,259,830
921,980
36.64
%
Gross Profit
797,792
814,452
(1.02) %
Operating Expenses
789,795
570,245
38.50 %
Operating Income
7,997
244,207
2,953.73%
Net Income
14,553
191,960
(92.42) %

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