Question

Net income is equal to the total revenue from selling an item minus the cost of producing the item. Determine the net income if the revenue from a business is $400,000 and the cost is $156,800. where I = net income, R = revenue, C = cost

Answer 1

$400,000 - $156,800= $243,200

Just take away the cost from the revenue

Answer 2

I = R - C
I = 400,000 - 156,800
I = 243,200 <== ur net income