If 6 cents of every dollar of erins revenue is net income, Accounting Basics

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If 6 cents of every dollar of erins revenue is net income

Question: 1.Two popular methods of financial statement analysis are horizontal analysis and vertical analysis. Explain the difference between these two methods.

2. (a) If Erin Company had net income of $300,000 in 2016 and it experienced a 24.5% increase in net income for 2017, what is its net income for 2017?

(b) If 6 cents of every dollar of Erin's revenue is net income in 2016, what is the dollar amount of 2016 revenue?

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Accounting Basics: If 6 cents of every dollar of erins revenue is net income

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