To calculate a year-to-year percentage change in any financial statement line item such as sales, you should take the current year's amount, subtract the prior year's amount, then divide by ______, and finally multiply the result by 100.
net income
total assets
the current year's amount
the prior year's amount

We must calculate year-to-year percentage change in any financial statement line by taking the current year's amount, subtracting the prior year's amount, then dividing by the prior year's amount and finally multiplying the result by 100. The correct option is d.

What is a financial statement?

Financial statements can be understood as the written records that carry the business activities and the financial performance of a company. These statements are audited by government agencies, accountants, firms, so that they can ensure the accuracy and for tax, financing, or investing purposes. Primary financial statements for profit include the balance sheet, income statement, statement of cash flow, and statement of changes in equity.

Organizations which are for nonprofit uses a similar but different set of financial statements.

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