The net income reported by Saira's Service Shop for the year was
A) $200,000.
B) $250,000.
C) $150,000.
D) $475,000.

Question

Quizplus · Accepted Answer

The net income is calculated as the total revenue minus the total expenses. From the given information, we know that the total revenue was $750,000 and the total expenses were $500,000. Subtracting the total expenses from the total revenue, we get the net income as $250,000 (750,000-500,000). Therefore, the best choice is B.

The Net Income Reported by Saira's Service Shop for the Year