Reference no: EM132807786
Problem 1: At the end of 2017, Net Income on the income statement for the Badger Inn was $75,000 while Net Income for 2016 was $100,000. The year-over-year decrease for net income was:
Group of answer choices
Option 1: $25,000 and 125%
Option 2: $25,000 and 25%
Option 3: $25,000 and 133.3%
Option 4: $25,000 and 33.3%
Problem 2: Collins Restaurants reported $5,150,000 in Sales for 2016 and $4,875,000 for 2015. Controllable Earnings for 2016 were $1,575,000 and $1,475,000 for 2015. Using the Industry Rules discussed in class, which of the following is correct?
Group of answer choices
Option 1: Neither Rule was met
Option 2: Rule #2 was met.
Option 3: Both Rules were met
Option 4: Rule #1 was met
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