The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Aldine Inc.as they appear on the company's adjusted trial balance.

-Use the information above to answer the following question.Net income would be:
A) $8,000.
B) $9,000.
C) $10,000.
D) $14,000.

Question

The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Aldine Inc.as they appear on the company's adjusted trial balance.
 
-Use the information above to answer the following question.Net income would be:
A) $8,000. 
B) $9,000. 
C) $10,000. 
D) $14,000.

Quizplus · Accepted Answer

Net income is calculated by subtracting expenses from revenue. In this case, revenue is $22,000 and expenses are $14,000, so net income is $22,000 - $14,000 = $8,000.

The Following Is a Listing of Some of the Balance