Question

determine the net income of a company for which the following information is available for the month of july. employee salaries expense$ 197,000 interest expense27,000 rent expense37,000 consulting revenue468,000 multiple choice $207,000. $261,000. $281,000. $468,000. $729,000.

Answer 1

The net income of  the company is $207,000

What is the net income of the company?

The net income of the company is the consulting revenue minus the salaries expense, the interest expense as well as the rent expense for the month of July.

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

consulting revenue=468,000

salaries expense=197,000

rent expense=37,000

interest expense=27,000

net income=468,000-197,000-37,000-27,000

net income=$207,000

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