Question

The Caldwell family owns a bookstore. Last month, their gross income was $22,550. Their operating expenses were: rental costs of $3,325, labor costs of $5,455, and otherexpenses of $4,985. What was their monthly net income?$8,785$8,965$9,125$9,575None of these choices are correct.

Answer 1

The net income is given by:

Net income = gross income - rental costs - labor costs - other

expenses

Therefore:

`\begin{gathered} Net_{\text{ }}income=22550-3325-5455-4985 \\ Net_{\text{ }}income=8785 \end{gathered}`

Answer:

$8,785