Which of the following combinations does not result in the same amount of net income reported on the income statement?
A)Total revenues of $80,000 and total expenses of $60,000.
B)Total revenues of $170,000 and total expenses of $150,000.
C)Total revenues of $60,000 and total expenses of $40,000.
D)Total revenues of $70,000 and total expenses of $60,000.
E)Total revenues of $40,000 and total expenses of $20,000.

Question

Quizplus · Accepted Answer

Net income is calculated as total revenues minus total expenses. For options A, B, C, and E, the net income is $20,000 ($80,000-$60,000, $170,000-$150,000, $60,000-$40,000, and $40,000-$20,000, respectively). However, for option D, the net income is $10,000 ($70,000-$60,000), which does not match the net income of the other options.

Which of the Following Combinations Does Not Result in the Same