In 1994, Company X recorded profits that were 10% greater than in 1993, and in 1993 the company's profits were 20% greater than they were in 1992. What were the company's profits in 1992?
(1) In 1994, the company's profits were $100,000 greater than in 1993.
(2) For every $3.00 in profits earned in 1992, Company X earned $3.96 in 1994.
(1) In 1994, the company's profits were $100,000 greater than in 1993.
(2) For every $3.00 in profits earned in 1992, Company X earned $3.96 in 1994.
