Firstplace Furniture, a furniture manufacturing company, has fixed costs of $55,000. Their net. income is $25,000 and variable costs are 45% of sales. If its fixed costs increase by $12,000 and variable costs increase by 5%, by what percent should the company change the selling price to earn the same profit of $25,000? Assume that there is no change in the number of units sold.

AppendixLO1