Question

During June​, Mike's Hardware made sales of $ 54 comma 400 and ended the month with inventories totaling $ 10 comma 600. Cost of goods sold was $ 16 comma 400. Total operating expenses were $ 9 comma 100. How much net income did Mike's Hardware earn for the​ month? A. $ 38 comma 000

Answer 1

Hardware earn for the​ month: $29,000

Step-by-step explanation:

Net Income: Sales - Cost of Goods Sold - Operating Expenses

Sales $54,000

Cost of Goods Sold $16,400

Operating Expenses $9,100

Net Income: $29,000