Finn Publishing Corp. produces a monthly publication aimed at competitive swimmers, with articles profiling current stars of the sport, advice from coaches, and advertising by swimwear companies, training organizations and others. The magazine is distributed through newsstands and bookstores, and by mail to subscribers. The most common subscription is for twelve months. When Finn Publishing receives payment of an annual subscription, it records an Unearned Revenue liability that is reduced by 1/12th each month as publications are provided. The table below provides four years of revenues from the income statement and unearned revenue from the balance sheet. (All amounts in $ thousands). Unearned revenue liability
Fiscal year Revenue (end of year)
2015 $48,000 $20,000
2016 55,000 24,000
2017 62,000 26,000
2018 62,000 25,000
a. Calculate the amount of customer purchases in 2016, 2017, and 2018.
b. Calculate the growth rates from 2016 to 2017 and from 2017 to 2018.