A square has four equal sides a, so the perimeter is 4a.

The side of the square is 5 ft long.
The length is increased by 2 ft -> 5+2=7 ft.
The width is decreased by 1 ft -> 5-1=4 ft.
The new figure is a rectangle with the dimensions 4 ft x 7 ft.
The area of a rectangle is the product of the length and the width.

The area of the new figure is 28 ft².