Question

what is the companys net income, according to the following data. credit sales 80000 cash sales 500000 opperation expenses on credit 200000 chas operaitng expenses 700000 accounts receivable (beg o year) 50000 g

Answer 1

$240,000

Step-by-step explanation:

Note: Question is incomplete and the complete question is attached as picture below

Particulars Amount

Total sales $1,300,000 ($800000+$500000)

Less: Total operating expenses $900,000 ($200000+$700000)

Income before tax $400,000

Less: Corporate tax $160,000 ($400,000*40%)

Net Income $240,000