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InterviewSolution
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Comparative Income Statement For Years Ended 31, 2008 and 20071. 2008 ($)2.2007 ($)Increase or Decrease3. Amount4. Percent298,000 24.8%223,000 27.2%SalesCost of goods sold 1,498,000 1,043,000 1,200,000820,000Gross proft455,000380,0007500019.7%Selling expensesGeneral expenses191,000104,000147,00097,40044,0006,60029.9%6.8%Total operating expenses295,000244,40050,60020.7%Operating incomeOther income160,0008,500135,60011,00024,400(2500)18.0%(22.7)%168,5006,000Other expenses146,60012,00021,900(6,000)14.9%(50.0) %Income before income taxIncome tax162,50071,500134,60058,10027,90013,40020.7%23.1%Net income91,00076,50014,50019.0%1) Compute the necessary ratios for both years. |
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Answer» Solution for What is 5 percent of 298000:5 percent *298000 =(5:100)*298000 =(5*298000):100 =1490000:100 = 14900Now we have: 5 percent of 298000 = 14900Question: What is 5 percent of 298000?Percentage solution with STEPS:Step 1: Our output value is 298000.Step 2: We represent the unknown value with $x$x.Step 3: From step 1 above,$298000=100\%$298000=100%.Step 4: Similarly, $x=5\%$x=5%.Step 5: This results in a pair of simple equations:$298000=100\%(1)$298000=100%(1).$x=5\%(2)$x=5%(2).Step 6: By DIVIDING equation 1 by equation 2 and noting that both the RHS (RIGHT HAND SIDE) of bothequations have the same unit (%); we have$\frac{298000}{x}=\frac{100\%}{5\%}$298000x=100%5%Step 7: Again, the reciprocal of both sides gives$\frac{x}{298000}=\frac{5}{100}$x298000=5100$\Rightarrow x=14900$⇒x=14900Therefore, $5\%$5% of $298000$298000 is $14900$ |
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