Question

Select the correct answer. what is the net profit for the year ended 31st december, 2xxx? income statement for the year ended december 31, 2xxx revenue $ sales revenue 30,000 interest revenue 2,000 total revenue expenses furniture

Answer 1

To determine the net profit for the year ended 31st December, 2xxx, you need to subtract the total expenses from the total revenue. However, the answer cannot be determined accurately without knowing the expenses amount.

Step-by-step explanation:

The net profit for the year ended 31st December, 2xxx can be calculated by subtracting the total expenses from the total revenue from the income statement.

Given that the revenue consists of sales revenue of $30,000 and interest revenue of $2,000, the total revenue would be $32,000. The expenses information is incomplete, so the calculation cannot be done accurately without knowing the expenses amount.

To calculate the net profit, subtract the total expenses from the total revenue: Net profit = Total revenue - Total expenses.