hlannette7005
22.04.2020 •
Business
During August, 2018, Baxter’s Supply Store generated revenues of $60,000. The company’s expenses were as follows: cost of goods sold of $36,000 and operating expenses of $4,000. The company also had rent revenue of $1,000 and a gain on the sale of a delivery truck of $2,000. Baxter’s net income for August, 2018 is Group of answer choices $21,000. $24,000. $23,000. $20,000.
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Ответ:
$23,000
Explanation:
The Net income of the company can be found from the following formula:
Net Income = Revenue - Cost of goods sold - Operating Expense + Rental Income + Gain on Sale
Here
Revenue generated is $60,000
Cost of goods sold is $36,000
Operating expenses are $4,000
Rental Income is $1,000
Gain on sale of the delivery Truck is $2,000
By putting values in the equation, we have:
Net Income = $60,000 - $36,000 - $4,000 + $1,000 + 2,000
Net Income = $23,000
Ответ:
ok
Explanation: