An ice cream company reported a net profit of $24,000 in 2002 and a net loss of $11,000 in 2003. How much did the company's profits change from 2002 to 2003?
The change in the company's profits from 2002 to 2003 can be calculated by subtracting the net profit in 2003 from the net profit in 2002.
Change in profits = Net profit in 2003 - Net profit in 2002
Change in profits = -$11,000 - $24,000
Change in profits = -$35,000
Therefore, the company's profits decreased by $35,000 from 2002 to 2003.
To calculate the change in profit from 2002 to 2003, you need to subtract the net profit of 2002 from the net loss of 2003.
Net Profit in 2002 = $24,000
Net Loss in 2003 = -$11,000
Change in Profit = Net Loss in 2003 - Net Profit in 2002
Change in Profit = -$11,000 - $24,000
To subtract a negative number, you can rewrite it as addition:
Change in Profit = -$11,000 + (-$24,000)
Change in Profit = -$11,000 - $24,000
Change in Profit = -$35,000
Therefore, the company's profit decreased by $35,000 from 2002 to 2003.