Ramos Company
Ramos Company Included the Following Information in Its

question 95

Multiple Choice

Ramos Company
Ramos Company included the following information in its annual report:
$\begin{array}{|l|r|r|r}\hline & \mathbf{2 0 1 1} & \mathbf{2 0 1 0} & {\mathbf{2 0 0 9}} \\\hline \text { Sales } & \$ 178,400 & \$ 162,500 & \$ 155,500 \\\hline \text { Cost of goods sold } & 115,000 & 102,500 & 100,000 \\\hline \text { Operating expenses } & 50,000 & 50,000 & 45,000 \\\hline \text { Net income } & 13,400 & 10,000 & 10,500 \\\hline\end{array}$

-Refer to the information for Ramos Company.In a percentage change income statement over the period of 2009 to 2011,what is the change in net income? 

• A) 100%
• B) 21.6%
• C) 72.4%
• D) 27.6%

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Definitions:

Participant Observation

A qualitative research method in which the researcher immerses themselves in the environment they are studying, participating in the activities while observing the setting and individuals within it.

Validation

The process of confirming or verifying something as true, correct, or compliant with standards.

Surveying

The science of measuring land to determine its boundaries, area, and the physical features it encompasses.

Premature Closure

The tendency to make a decision or come to a conclusion before acquiring all relevant information.