Question

Determine the net income of a company for which the following information is available for the month of September. Service revenue $ 300,000 Rent expense 48,000 Utilities expense 3,200 Salaries expense 81,000

Answer 1

Net income 167,800

Step-by-step explanation:

The net income will be determinate by the difference of the revenues and revenues:

Service revenue 300,000

Salaries expense 81,000

Rent expense 48,000

Utilities expense 3,200

Total expenses 132,200

Net income 167,800

If provided with a tax rate, that value would be the earnigns before taxes (EBT)

We should also calculate the income tax and then, subtract the income tax to get the net income