Eaton Corporation Had Net Income of $6,000,000 in 2010

question 30

Essay

Eaton Corporation had net income of $6,000,000 in 2010. Using 2014 as the base year, net income decreased by 70% in 2013 and increased by 140% in 2014.
Required: Compute the net income reported by Eaton Corporation for 2013 and 2014.

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Definitions:

Tremors

Involuntary, rhythmic muscle movements involving to-and-fro movements of one or more parts of the body.

Rhythmic Jerking

Repetitive, involuntary jerking movements that occur in a rhythmic pattern, often seen in seizure disorders.

Guthrie Test

A screening test for newborns to detect metabolic disorders, using a blood sample from the baby's heel.

PKU

Phenylketonuria, a genetic disorder leading to the buildup of phenylalanine in the body, causing intellectual disability and other health issues if untreated.