Computing and Interpreting Rates of Change
Selected information from the financial statements of Remmer, Inc., includes the following:
| 2015 | 2014 |
Net sales | $2,200,000 | $2,000,000 |
Total expenses | 2,005,000 | 1,800,000 |
a. Compute the percentage change in 2015 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 2015:
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 2014. For each answer, explain your reasoning without making any computations or references to dollar amounts.
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