A company reported the following amounts of net income:
$$\begin{array} { | l | l | }
\hline 2006 & \$ 18,000 \
\hline 2007 & \$ 24,000 \
\hline 2008 & \$ 26,000 \
\hline
\end{array}$$ Which of the following is the percentage change in net income from 2006 to 2007?
A) 33.33%
B) 8.33%
C) 10.00%
D) 30.00%

Question

A company reported the following amounts of net income:
$$\begin{array} { | l | l | } 
\hline 2006 & \$ 18,000 \
\hline 2007 & \$ 24,000 \
\hline 2008 & \$ 26,000 \
\hline
\end{array}$$ Which of the following is the percentage change in net income from 2006 to 2007?
A) 33.33%
B) 8.33%
C) 10.00%
D) 30.00%

Quizplus · Accepted Answer

The percentage change in net income from 2006 to 2007 is calculated as $\frac{\$24,000 - \$18,000}{\$18,000} \times 100\% = \frac{\$6,000}{\$18,000} \times 100\% = 33.33\%$.

A Company Reported the Following Amounts of Net Income 2006$18,0002007$24,0002008$26,000\begin{array} { | l | l | } \hline 2006 & \$ 18,000 \\\hline 2007 & \$ 24,000 \\\hline 2008 & \$ 26,000 \\\hline\end{array}200620072008​$18,000$24,000$26,000​​

A Company Reported the Following Amounts of Net Income $\begin{array} { | l | l | } \hline 2006 & \$ 18,000 \\\hline 2007 & \$ 24,000 \\\hline 2008 & \$ 26,000 \\\hline\end{array}$