Question

Given the information below, calculate net income in the current period. Accounts Receivable$14,700 Rent Expense 7,500 Insurance Expense 2,100 Common Stock 24,000 Service Revenue 28,300 Supplies 4,300 Equipment 21,600 Income Tax Expense 4,200 Multiple Choice $27,300. $29,200. $14,500. $10,200.

Answer 1

Net income = $14,500

Explanation :

Net income = Revenue from service - Income tax - Rent - Insurance

Net income = $28,300 - $4,200 - $7,500 - $2,100

Net income = $14,500