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5 votes
Herman is preparing the income statement for his company. Revenues for

the past year totaled $350,000. Expenses totaled $400,000. Which of the
following is correct?
A. Herman's company has a net income of $50,000.
B. Herman's company has a net loss of $50,000.
C. Herman's company has a income of $35,000
D. Hermans company has a net loss of $400,000

User Gabuchan
by
8.0k points

1 Answer

6 votes

Answer:

B. Herman's company has a net loss of $50,000

User Jon Harding
by
8.4k points
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