Ask Question
BusinessBusiness
Today, 06:48

During the years 2015 through 2017, Question Query Inc., reported the following amounts of net income (in thousands of dollars):

2015 2016 2017

$120 $150 $170

Relative to the prior year, the percentage change in net income:

was the same in 2015 and 2016

was the same in 2016 and 2017

was smaller in 2017 than 2016

cannot be determined without knowing the net sales for the three years

+2
Answers (2)
  1. Today, 08:42
    0
    was smaller in 2017 than 2016

    Explanation:

    The percentage change in net income relative to prior year would be given as the net difference between the two years income divided by the net income for the prior year.

    As such,

    the percentage change in net income

    2015

    = (120 - 0) / 0

    = ∞

    2016

    = (150 - 120) / 120

    = 25%

    2017

    = (170 - 150) / 150

    = 13.33%
  2. Today, 10:31
    0
    The percentage change in net income was smaller in 2017 than 2016.

    Explanation:

    The percentage change in net income in 2016 was:

    ⇒ 150/120 - 1 = 0.25 or 25%.

    Whereas, the percentage change in net income in 2017 was:

    ⇒ 170/150 - 1 = 0.1333 or 13.33%.

    Hence, this statement is correct that percentage change in 2017 was 13.33% which was smaller than percentage change of 25% in 2016.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “During the years 2015 through 2017, Question Query Inc., reported the following amounts of net income (in thousands of dollars): 2015 2016 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Doogan Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 8.3 grams $ 2.90 per gram Direct labor 0.4 hours $ 29.00 per hour Variable overhead 0.4 hours $ 7.
Answers (1)
What percentage of people in africa rely on solid fuel for cooking? 50% 60% 70% 80%?
Answers (1)
A stadium incurs a number of costs to accommodate fans. If a stadium pays $16,000 for labor, $55,000 for leasing parking space, and $60,000 to provide busing to and from the parking areas, what percentage costs for labor, leasing, and busing as a
Answers (1)
The standard cost card for a product indicates that one unit of the product requires 8 kilograms of a raw material at $0.80 per kilogram. The production of the product in April was 870 units, but production had been budgeted for 850 units.
Answers (1)
When the LA Galaxy played soccer in a stadium that seated 80,000-90,000 fans, many of the available tickets to each game went unsold and the stadium looked empty.
Answers (1)
New Questions in Business
Garden Company purchased merchandise on account from Parker Company for $88,000 with terms 1/15, net 45. Garden Company returned $12,000 of the merchandise and received full credit from Parker Company.
Answers (1)
Money is a productive asset. Its opportunity cost is: A) The time value of money. B) Valuation. C) Inflation. D) Replacement cost. E) Depreciation.
Answers (1)
What term refers to selling goods in a foreign market at a price that is far below the cost of production? A. profiteering B. screening C. offloading D. dumping
Answers (2)
John Pablo works in the accounting department of a multinational manufacturing company, His job includes updating account receivable based on sales orders and remittance advices.
Answers (1)
Exercise 14-04 On October 31, the stockholders' equity section of Cullumber Company consists of common stock $370,000 and retained earnings $904,000.
Answers (1)
Home » Business » During the years 2015 through 2017, Question Query Inc., reported the following amounts of net income (in thousands of dollars): 2015 2016 2017 $120 $150 $170 Relative to the prior year, the percentage change in net income: was the same in 2015 and
Sign Up Forgot Password?