Brief Exercise 136 Net income was 511000 in 2015 479000 in 2

Brief Exercise 13-6 Net income was $511,000 in 2015, $479,000 in 2016, and $531,000 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 -55 00 O, 20 % or 55 000 09 Round percentages to O decimal places, e.g. 12%.) Amount Percentage (a) 2015-2016 (b) 2016-2017 s Click if you would like to Show Work for this question: 32000 Open Show Work

Solution

THERE IS A DECREASE IN NET INCOME FROM 2015 TO 2016, i.e. $479000-$511000= -$32000. Percentage is decreased by 6%. i.e. -$32000/$511000*100= -6%. There is a increase in NET INCOME from 2016 to 2017, i.e. $531000-$479000= $52000 Percentage is increased by11% = $52000/$479000*100= 11%