(a) If Leonard Company had net income of $360,000 in 2012 and it experienced a 24.5% increase in net income for 2013, what is its net income for 2013? (b) If six cents of every dollar of Leonard revenue is net income in 2012, what is the dollar amount of 2012 revenue?

Chapter 18, Questions #4

  (a) If Leonard Company had net income of $360,000 in 2012 and it experienced a 24.5% increase in net income for 2013, what is its net income for 2013?
  (b) If six cents of every dollar of Leonard revenue is net income in 2012, what is the dollar amount of 2012 revenue?

Related Book For answer-question

Accounting Principles

10th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

ISBN: 978-0470534793