Use the following information for questions 127-129.
Carla's Computer Repair Shop started the year with total assets of $270,000 and total liabilities of $180,000. During the year, the business recorded $450,000 in computer repair revenues, $255,000 in expenses, and Carla withdrew $45,000.
-The net income reported by Carla's Computer Repair Shop for the year was
A) $150,000.
B) $195,000.
C) $90,000.
D) $405,000.

Question

Quizplus · Accepted Answer

Net Income = Revenues - Expenses
Net Income = $450,000 - $255,000
Net Income = $195,000

Use the Following Information for Questions 127-129