Computing and Interpreting Rates of Change
Selected information from the financial statements of Rochet, Inc.. includes the following:
| 2011 | 2010 |
Net sales | $2,200,000 | $2,000,000 |
Total expenses | 1,998,000 | 1,800,000 |
a. Compute the percentage change in 2011 for the amounts of (1) net sales and (2) total expenses.
b. Using the information developed in part a, express your opinion as to whether the company’s net income for 2011:
1. Increased at a greater or lower percentage rate than did net sales.
2. Represented a larger or smaller percentage of net sales revenue than in 2010. For each answer, explain your reasoni ng without making any computations or references to dollar amounts.
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