Question

Calculate the percent change in net sales from

Quarter 1 to Quarter 2 from the following income
statement information:
Q1 (x1000)
Net Sales 115
COGS
30
Gross Profit 85
Overhead 32
Net Income 53
Q2(x1000)
125
31
94
41
53
percent change = [?] %
Enter your answer as a percent rounded to the nearest tenth.
Enter
Help

Answer 1

8.7%

Explanation:

Well the net sales of Quarter 1 = 115 whilst the net sales of Quarter 2 = 125.

So the difference in the 2 numbers is 125-115 = 10

To find percentage change, you do 10/115 = 0.0869565217

Then, 0.0869565217 x 100 = 8.7% change to 1 decimal point.

So your percentage change is 8.7%.