Question

What is the current net income for Clarington Company?

a) $30,000

b) $42,100

c) ($41,775)

d) $58890

Answer 1

The current net income for Clarington Company is $499,864.70.

Step-by-step explanation:

The net income for Clarington Company can be calculated by starting with the total revenue and subtracting all expenses.

In the provided information, the total revenue is $2,555,363.20 and the total expenses are $2,055,498.50. To find the net income, subtract the expenses from the revenue: $2,555,363.20 - $2,055,498.50 = $499,864.70

Therefore, the current net income for Clarington Company is $499,864.70. None of the given options match this amount, so none of the provided answer choices are correct.