Question
Assume that the operating results for last year were: Sales $ 2,160,000 Variable expenses 1,080,000 Contribution margin 1,080,000 Fixed expenses 180,000 Net operating income $
Assume that the operating results for last year were:
Sales $ 2,160,000
Variable expenses 1,080,000
Contribution margin 1,080,000
Fixed expenses 180,000
Net operating income $ 900,000
The president expects sales to increase by 16% next year. By what percentage should net operating income increase? (Round intermediate calculations to 2 decimal places and final percentage answer to 2 decimal places, i.e. 22.47%)
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Principles of Accounting
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
12th edition
978-1133603054, 113362698X, 9781285607047, 113360305X, 978-1133626985
