Albion Distributors revenues and expenses for the fiscal year just completed were $2,347,000 and $2,189,000, respectively. a.

Question:

Albion Distributors’ revenues and expenses for the fiscal year just completed were $2,347,000 and $2,189,000, respectively.
a. If in the current year revenues rise by 10% but expense increases are held to 5%, what will be the percent increase in profit?
b. If, instead, revenuesdeclineby10%and expenses are reduced by 5%, what will be the percent change in profit?