Exeter Corporation had net income of $3,000,000 in 2016. Using 2016 as the base year, net income decreased by 40% in 2017 and increased by 110% in 2018.
Instructions
Compute the net income reported by Exeter Corporation for 2017 and 2018.

Question

Quizplus · Accepted Answer

The Answer of Exeter Corporation had net income of $3,000,000 in 2016. Using 2016 as the base year, net income decreased by 40% in 2017 and increased by 110% in 2018.
Instructions
Compute the net income reported by Exeter Corporation for 2017 and 2018.

Exeter Corporation Had Net Income of $3,000,000 in 2016