In: Accounting
The Daniel Insurance Agency reported revenues of $29,000 and expenses of $31,000 for the current period. What was the final figure reported on the company’s income statement?
Multiple Choice
$2,000 net loss
$2,000 net income
$29,000 net income
$31,000 net loss
Answer : Total Revenue - Total expense = Net profit or Loss
: Revenue $29000- Expense $31000
: Net loss $2000