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What is the net income of the corporation? Income Statement Items ($) Revenues Sales Revenue 500,000...

What is the net income of the corporation? Income Statement Items ($) Revenues Sales Revenue 500,000 Cost of Goods Sold 20,000 Administration Expenses 20,000 Selling expenses 30,000 Depreciation 15,000 Taxes 15,000 A. $400,000 B. $100,000 C. $450,000 D. $300,000 E. $150,000

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Ans: A $400,000

S.NO Income Statement Amount Amount
1 Revenue:
     Sales Revenue $500,000
                                           Total Revenue $500,000
2 Expenses:
Cost of Goods Sold $20,000
Administration Expenses $20,000
Selling Expenses $30,000
Taxes $15,000
Depreciation $15000
                                                           Total Expenses $100000
3 Net Income $400,000

ekkarill92 answered 1 year ago
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