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 11 months ago

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