Sidney Company: Review the Income Statement information below and compute the percentage of change in revenues...
Sidney Company: Review the Income Statement information below and compute the percentage of change in revenues for Year 3 as compared to Year 2. ($ in millions)
Year 3 Year 2 Year 1
Revenues $42,879 $42,151 $39,403
| a. |
7.0% |
|
| b. |
1.7% |
|
| c. |
1.9% |
|
| d. |
8.0% |
|
| e. |
(1.7%) |
Homework Answers
Revenue in year 2 = $42,151
Revenue in year 3 = $42,879
Change in revenue in year 3 as compared to year 2 = Revenue in year 3 - Revenue in year 2
= 42,879-42,151
= $728
Percentage of change in revenue for year 3 as compared to year 2 = Change in revenue in year 3 as compared to year 2 / Revenue in year 2
= 728/42,151
= 1.7%
Correct option is b.
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