Net income was $753,480 in the current year and $655,200 in the prior year.The year-to-year percentage change in net income is an increase of:
A)15%.
B)55%.
C)87%.
D)13%.

Name: Net income was $753,480 in the current year and $655,200 in the prior year.The year-to-year percentage change in net income is an increase of: A)15%. B)55%. C)87%. D)13%.
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Question

Quizplus · Accepted Answer

Year-to-year change (%)= [(Current year's total − Prior year's total)÷ Prior year's total] × 100 = [($753,480 − $655,200)÷ $655,200] × 100 = 15%

Net Income Was $753,480 in the Current Year and $655,200