Yeats Corporation's sales in Year 1 were $396,000 and in Year 2 were $380,000. Using Year 1 as the base year, the percent change for Year 2 compared to the base year is:
A) 4.2%
B) -104%
C) -4%
D) 96%
E) 100%

Question

Quizplus · Accepted Answer

The formula to calculate percent change is:
Percent Change = ((Year 2 Value - Base Year Value) / Base Year Value) * 100%

Using the given formula, we can calculate the percent change for Year 2 compared to the base year:

Percent Change = ((380,000 - 396,000) / 396,000) * 100%
Percent Change = (-16,000 / 396,000) * 100%
Percent Change = -0.0404 * 100%
Percent Change = -4%

Therefore, the answer is C: -4%.

Yeats Corporation's Sales in Year 1 Were $396,000 and in Year