Question

Korey's comic book store has been up and running for 4 years. Korey feels that his store has been successful and is considering moving to a larger property to allow for greater inventory and customer opportunities in his business . He would like investors to cover the cost of his expansion. The profits of Korey's comic book store for its first four years are outlined below.According to this information, what would be the best estimate for korey to quote as expected profits in the next year in his new business plan

Answer 1

Had to look for the rest of the details and here is my answer.

Based on the given table of data attached to this question, the best estimate for Korey to quote as expected profits in the next year for his business plan next year would be $19,386.97. Here is the given information of his net year profits.
Year
Net Profits
1: $14,250.00
2 : $15,390.00
3 : $16,621.20
4 : $17,950.90
5 : ?

Hope this answer helps.

Answer 2

Based on the growth rate of his net income over the past 4 years, Korey's comic book store can quote expected profits of $19,386.97 .

What is Korey's expected profit?

First find the rate of growth for his income:

= (4th year income - 3rd year income) / 3rd year income

= (17,950.90 - 16,621.20) / 16,621.20

= 8%

The expected income is:

= 4th year income x ( 1 + growth rate)

= 17,950 x ( 1 + 8%)

= $19,386.97.

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