Question

Ben owns an ice cream shop. Last quarter's income was $9,000; his cost of goods was $575, and his total expenses were $5,000.

What is Ben's Net Income for the last quarter?

Type a comma to separate the digits and type the $ symbol when you enter your answer as shown below:

Example: $15,300

Answer 1

$3,425

Explanation:

Net income is the income made after all expenses and cost of goods are deducted.

Last quarter income $9000

All expenses are goods ($575) + total expenses ($5000) = $5575

Net income = $9000 - $5575

Net income = $3,425