Net income was $65,000 in Year 1 and $50,000 in Year 2. The percentage increase or decrease in net income was:
A) 30.00%.
B) 76.92%.
C) -23.08%.
D) -30.00%.

Question

Quizplus · Accepted Answer

The net income decreased from $65,000 in Year 1 to $50,000 in Year 2. The decrease is $15,000. The percentage decrease is calculated as ($15,000 / $65,000) * 100 = 23.08%. Since it is a decrease, the correct answer is -23.08%.

Net Income Was $65,000 in Year 1 and $50,000 in Year