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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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]

Question
Updated 3/11/2012 11:21:39 AM
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3
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
Confirmed by andrewpallarca [4/1/2014 8:33:52 AM]
Oops, you are correct there deb. For some reason, I thought 2011 was 2009. Sorry for that. And thanks! :)
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