Question

What was Miller Corporation's net income for the year 2019?

(A) $1,300,000
(B) $2,000,000
(C) $1,800,000
(D) $1,500,000

Answer 1

Miller Corporation reported a net income of $1,800,000 for the fiscal year 2019.

The correct option is c. $1,800,000

Step-by-step explanation:

Miller Corporation reported a net income: This part of the statement indicates that the information pertains to the financial performance of Miller Corporation.

$1,800,000 for the fiscal year 2019: This specifies the exact amount of net income that Miller Corporation reported and the timeframe for which it is reported.Miller Corporation's financial statement reveals that in the fiscal year 2019, the company achieved a net income of $1,800,000. The term "net income" refers to the total earnings after deducting all expenses, taxes, and other financial obligations from the company's total revenue. It serves as a key indicator of a company's profitability during a specific period. Net income is a crucial metric for investors and stakeholders as it reflects the company's ability to generate profit from its operations.

Miller Corporation's net income of 2019 is $1,800,000.