The total revenue of the month of June amounted to $7,500; total expenses amounted to $3,500; and withdrawals amounted to $600.The net income for the month amounted to
A) $7,500.
B) $3,400.
C) $4,000.
D) $3,500.

Question

Quizplus · Accepted Answer

Net income is calculated by subtracting total expenses and withdrawals from total revenue. 
So, net income = total revenue - (total expenses + withdrawals) 
= $7,500 - ($3,500 + $600) 
= $7,500 - $4,100 
= $3,400

Therefore, the net income for the month was $3,400. The correct choice is C.

The Total Revenue of the Month of June Amounted to $7,500;