The trend analysis report of Doppler, Inc is given below (in millions)
2018 2017 2016 2015 2014
Net income $700 $607 $456 $403 $401
Trend percentages 175% 151% 114% 100% 100%
Which of the following is a correct conclusion from the above analysis?
A) Net income for 2018 is 175% of that for 2014.
B) Net income for 2017 is 151% of the previous year.
C) Net income for 2017 decreased by 151% from 2016.
D) Net income for 2018 increased by 175% from 2017.
A
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Which of the following indicates cash receipts?
A. Debit entries in the Notes Receivable account. B. Credit entries in the Marketable Securities account. C. Debit entries in the Notes Payable account. D. Credit entries in the Accumulated Depreciation account.
On December 2, 2014, Loofa Company, which operates a furniture rental business, traded in a used delivery truck with a carrying amount of $5,400 for a new delivery truck having a list price of $16,000 and paid a cash difference of $7,500 to the dealer. The used truck had a fair value of $6,000 on the date of the exchange. The exchange has commercial substance. At what amount should the new truck
be recorded on Loofa's books? a. $10,600 b. $12,900 c. $13,500 d. $16,000