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If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010, what was its 2010 net income? $ Click here if you would like to Show Work for this question
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Asked 3/10/2012 10:36:51 AM
Updated 3/11/2012 11:21:39 AM
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User: If Soule Company had net income of $585,000 in 2011 and it experienced a 30% increase in net income over 2010, what was its 2010 net income? $ Click here if you would like to Show Work for this question



Weegy: The 2010 income would be: $760,500. [585 000 + (585 000 x .30) = 760 500]
Expert answered|patmarone|Points 3997|

Question
Asked 3/10/2012 10:36:51 AM
Updated 3/11/2012 11:21:39 AM
2 Answers/Comments
This conversation has been flagged as incorrect.
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If the 2011 income of $585,000 is a 30% increase over 2010 income, the income for 2010 was $450,000.
1.3x = 585000
x = 585000/1.3
x = 450000
Added 3/10/2012 11:00:42 AM
This answer has been confirmed as correct and helpful.
Confirmed by andrewpallarca [4/1/2014 8:33:52 AM]
Comments
Oops, you are correct there deb. For some reason, I thought 2011 was 2009. Sorry for that. And thanks! :)
Added 3/11/2012 11:21:39 AM
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