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The following accounts and balances were drawn from the records of Carolina Company on December 31,2016:

-The amount of net income shown on Carolina's 2016 income statement would amount to:
A)$2,200.
B)$3,200.
C)$1,000.
D)$200.

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The following accounts and balances were drawn from the records of Carolina Company on December 31,2016:
 
-The amount of net income shown on Carolina's 2016 income statement would amount to:
A)$2,200. 
B)$3,200. 
C)$1,000. 
D)$200.

Quizplus · Accepted Answer

To calculate the net income, we need to subtract the total expenses ($9,000) from the total revenue ($10,000). Therefore, the net income would be $1,000 (10,000 - 9,000). Option C is the correct answer.

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