Question

A company reported a net income for the quarter as $2.75 billion. Last quarter, the income was reported as $1.76 billion. How much did the income increase?


What operation are you going to use?


What is your reasoning to come up with the increase in income?

Answer 1

To find the increase in income, you will need to use subtraction. You will subtract the previous quarter's net income from the current quarter's net income.

Here is the calculation:

1. **Determine the net income for each quarter:**
- Current quarter: $2.75 billion
- Last quarter: $1.76 billion

2. **Use subtraction to find the increase:**
- Increase in income = Current quarter income - Last quarter income
- Increase in income = $2.75 billion - $1.76 billion

3. **Calculate the increase:**
- Increase in income = $2.75 billion - $1.76 billion = $0.99 billion

So, the increase in income is **$0.99 billion**.

### Reasoning:
By using subtraction, you are determining how much more the company earned in the current quarter compared to the previous quarter. The difference between the two income figures gives you the amount of increase in net income, which is important for understanding the company's financial growth.