Question

Which of the following equations correctly describes how to calculate net income? a. net income = (cost of goods sold) - (net sales) - (operating expenses) b. net income = (operating expenses) - (cost of goods sold) - (net sales) c. net income = (operating expenses) + (cost of goods sold) - (net sales) d. net income = (net sales) - (cost of goods sold) - (operating expenses) Please select the best answer from the choices provided A B C D Mark this and return

Answer 1

The answer is D. net income= (net sales) - (cost of goods sold)- (operating expenses).

Step-by-step explanation: