Jay’s Income Welcome! You are encouraged to register with the site and login (for free). When you register, you support the site and your question history is saved.Jay's net income equals his gross income minus his deductions. By what percent did Jay's net income change as of December 31, when both his gross income and his deductions increased?(1) Jay's gross income increased by 8 percent on December 31.(2) Jay's deductions increased by 16 percent on December 31. Statement (1) ALONE is sufficient, but statement (2) alone is not sufficient. Statement (2) ALONE is sufficient, but statement (1) alone is not sufficient. BOTH statements TOGETHER are sufficient, but NEITHER statement ALONE is sufficient. EACH statement ALONE is sufficient. Statements (1) and (2) TOGETHER are NOT sufficient. Review Answer