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8 July, 03:24

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

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  1. 8 July, 03:53
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    Net income 167,800

    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
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