Boone Trading Company reported net sales of $400,000, $440,000, and $560,000 in the years 2021, 2022, and 2023, respectively.If 2021 is the base year, what is the trend percentage for 2023?

Question

Quizplus · Accepted Answer

The trend percentage is calculated by dividing the net sales of the year in question by the net sales of the base year and then multiplying by 100. For 2023, it is ($560,000 / $400,000) * 100 = 140%.

Boone Trading Company Reported Net Sales of $400,000, $440,000, and $560,000