Fulton Company has the following information available:
Gross profit, For the Year Ending December 31, 2013$ \quad $$ \quad $$\$ 430$
Gross Profit, For the Year Ending December 31, 2012$ \quad $$ \quad $$\$ 360$
What is the percentage increase or (decrease)in gross profit from 2012 to 2013 for Fulton Company?
A)(19.4)%
B)(12.5)%
C)6)8%
D)12.5%
E)19.4%

Question

Fulton Company has the following information available: 
Gross profit, For the Year Ending December 31, 2013$ \quad $$ \quad $$\$ 430$
Gross Profit, For the Year Ending December 31, 2012$ \quad $$ \quad $$\$ 360$ 
What is the percentage increase or (decrease)in gross profit from 2012 to 2013 for Fulton Company?
A)(19.4)%
B)(12.5)%
C)6)8%
D)12.5%
E)19.4%

Quizplus · Accepted Answer

To find the percentage increase or decrease in gross profit from 2012 to 2013, we use the formula:

Percentage increase/decrease = [(New value - Old value)/Old value] x 100%

Using the given values, we get:

Percentage increase/decrease = [(430 - 360)/360] x 100%
Percentage increase/decrease = (70/360) x 100%
Percentage increase/decrease = 0.1944 x 100%
Percentage increase/decrease = 19.44%

Therefore, the gross profit increased by 19.44% from 2012 to 2013. The correct answer choice is E.

Fulton Company Has the Following Information Available: Gross Profit \quad

Fulton Company Has the Following Information Available:
Gross Profit $\quad$