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?

Answer 1

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.