If Hard in Parle Company Had Net Income of $620,000

question 101

Essay

If Hard in Parle Company had net income of $620,000 in 2014 and it experienced a 19% increase in net income over 2013, what was its 2013 net income?

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Definitions:

Free People

Individuals who are not subject to the control or slavery by another; in historical contexts, it often refers to those not enslaved or serfs.

Secretary of State

A high-ranking government official responsible for foreign affairs, typically in the United States or similar systems of government.

Marshall Plan

An American initiative passed in 1948 to aid Western Europe, in which over $12 billion was given to help rebuild Western European economies after the end of World War II.

Stalin

Joseph Stalin was the dictator of the Soviet Union from the late 1920s until his death in 1953, known for his totalitarian regime, the implementation of the Five-Year Plans, the Great Purge, and his role in World War II.