Question

Comparative Income Statement
For Years Ended 31, 2008 and 2007
1. 2008 ($)
2.2007 ($)
Increase or Decrease
3. Amount
4. Percent
298,000 24.8%
223,000 27.2%
Sales
Cost of goods sold
1,498,000
1,043,000
1,200,000
820,000
Gross proft
455,000
380,000
75000
19.7%
Selling expenses
General expenses
191,000
104,000
147,000
97,400
44,000
6,600
29.9%
6.8%
Total operating expenses
295,000
244,400
50,600
20.7%
Operating income
Other income
160,000
8,500
135,600
11,000
24,400
(2500)
18.0%
(22.7)%
168,500
6,000
Other expenses
146,600
12,000
21,900
(6,000)
14.9%
(50.0) %
Income before income tax
Income tax
162,500
71,500
134,600
58,100
27,900
13,400
20.7%
23.1%
Net income
91,000
76,500
14,500
19.0%
1) Compute the necessary ratios for both years.​

Answer 1

Answer:

Solution for What is 5 percent of 298000:

5 percent *298000 =

(5:100)*298000 =

(5*298000):100 =

1490000:100 = 14900

Now we have: 5 percent of 298000 = 14900

Question: What is 5 percent of 298000?

Percentage solution with steps:

Step 1: Our output value is 298000.

Step 2: We represent the unknown value with $x$x.

Step 3: From step 1 above,$298000=100\%$298000=100%.

Step 4: Similarly, $x=5\%$x=5%.

Step 5: This results in a pair of simple equations:

$298000=100\%(1)$298000=100%(1).

$x=5\%(2)$x=5%(2).

Step 6: By dividing equation 1 by equation 2 and noting that both the RHS (right hand side) of both

equations have the same unit (%); we have

$\frac{298000}{x}=\frac{100\%}{5\%}$298000x=100%5%

Step 7: Again, the reciprocal of both sides gives

$\frac{x}{298000}=\frac{5}{100}$x298000=5100

$\Rightarrow x=14900$⇒x=14900

Therefore, $5\%$5% of $298000$298000 is $14900$