Brief Exercise 136 Net income was 519000 in 2015 482000 in 2

Brief Exercise 13-6 Net income was $519,000 in 2015, $482,000 in 2016, and $525,000 in 2017. What is the percentage of change from (a) 2015 to 2016, and (b) from 2016 to 2017? 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 dec places, e.g. 12%.) Amount Percentage (a) 2015-2016 (b) 2016-2017 s

Solution

Amount Percentage 2015-2016 -37000 -7% Decrease (482000-519000) (-37000/519000) 2016-2017 43000 9% Increase (525000-482000) (43000/482000)