Use the following to answer questions
James Company had the following income statement for the year ended December 31, 2010:

-The firm's net income for 2010 was:
A)$110,000
B)$102,000
C)$ 80,000
D)unable to determine from the information given

Question

Use the following to answer questions
James Company had the following income statement for the year ended December 31, 2010:
 
-The firm's net income for 2010 was:
A)$110,000 
B)$102,000 
C)$ 80,000 
D)unable to determine from the information given

Quizplus · Accepted Answer

Net income = Sales - Cost of goods sold - Operating expenses - Interest expense + Interest income

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