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27 August, 22:34

What was the 2012 net profit amount if the 2013 pro-forma net profit of $187,000 was based on a 22% increase?

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  1. 28 August, 00:27
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    2012 net profit = 100/122 x $187,000

    2012 net profit = $153,279

    Explanation:

    Since the pro-forma net profit for 2013 is $187,000 which increases by 22% over the net profit of 2012, thus, the 2012 net profit is 100/122 of 2013 pro-forma net profit.
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