Homework Answers
| 20Y1 | 20Y0 | Amount Increase / (Decrease) | Percent Increase / (Decrease) | |
| Fees earned | $724,750 | $650,000 | $74,750 | 11.5% |
| Operating expenses | $449,400 | $420,000 | $29,400 | 7.0% |
| Net income | $275,350 | $230,000 | $45,350 | 19.7% |
Amount Increase / (Decrease)
Fees earned = $724,750 - $650,000
= $74,750
Operating expenses = $449,400 - $420,000
= $29,400
Net income = $275,350 - $230,000
= $45,350
Percent Increase / (Decrease)
Fees earned = $74,750 / $650,000
= 11.5%
Operating expenses = $29,400 / $420,000
= 7.0%
Net income = $45,350 / $230,000
= 19.7%
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