Determine the net income of a company for which the following information is available.
Employee salaries expense……………..$180,000
Interest expense………………………… 10,000
Rent expense……………………………. 20,000
Consulting revenue……………………..400,000
A)$190,000
B)$210,000
C)$230,000
D)$400,000
E)$610,000

Question

Quizplus · Accepted Answer

Expenses: $180,000 + $10,000 + $20,000 = $210,000
Net income = $400,000 - $210,000 = $190,000

Determine the Net Income of a Company for Which the Following