Question

determine the net income of a company for which the following information is available for the month of july. employee salaries expense $ 183,000 interest expense 13,000 rent expense 23,000 consulting revenue 412,000

Answer 1

The net income of the company is $193,000

What is the net of the company?

The net income of the company is the total consulting revenue minus the salaries expense, interest expense, and rent expense, in other words, revenue minus total costs of running the company

net income=consulting revenue-rent expense-interest expense-salaries expense

consulting revenue=412,000

rent expense=23,000

interest expense=13,000

salaries expense=183,000

net income=412,000-23,000-13,000-183,000

net income=$193,000

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