The comparative income statement of Lawn Products, Inc. showed net income of $24,500 in 2004 and $27,300 in 2005. Compute the percentage of net change in net income. (Round answer to one decimal place.)

Percentage of Net Change

A calculation that measures the difference in a financial figure over a period as a percent of its value at the start of the period.

Comparative Income Statement

A financial statement that compares income, expenses, and net profits over different periods to show performance trends.

Net Income

The total earnings or profit of a person or company after all expenses and taxes have been subtracted from gross income.