To calculate the percent change in gross profit from Quarter 1 (Q1) to Quarter 2 (Q2), we follow these steps:
1. Identify the gross profit for each quarter:
- Gross Profit for Q1 = 82 (thousands)
- Gross Profit for Q2 = 140 (thousands)
2. Compute the change in gross profit:
[tex]\[
\text{Change in Gross Profit} = \text{Gross Profit for Q2} - \text{Gross Profit for Q1}
\][/tex]
Substituting the values:
[tex]\[
\text{Change in Gross Profit} = 140 - 82 = 58 \text{ (thousands)}
\][/tex]
3. Calculate the percent change in gross profit:
[tex]\[
\text{Percent Change} = \left( \frac{\text{Change in Gross Profit}}{\text{Gross Profit for Q1}} \right) \times 100
\][/tex]
Substituting the known values:
[tex]\[
\text{Percent Change} = \left( \frac{58}{82} \right) \times 100
\][/tex]
4. Perform the division and multiplication:
[tex]\[
\left( \frac{58}{82} \right) \times 100 \approx 70.73170731707317
\][/tex]
Therefore, the percent change in gross profit from Quarter 1 to Quarter 2 is approximately:
[tex]\[
70.73\%
\][/tex]
