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Mekhanik [1.2K]
3 years ago
15

Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES

Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $ 12,000 Operating expenses: Cost of goods sold $ 4,400 Depreciation expense 340 Insurance expense 600 General and administrative expense 2,800 Total operating expenses 8,140 Income before income taxes 3,860 Income tax expense (1,544 ) Net income
Business
1 answer:
Strike441 [17]3 years ago
8 0

Answer:

Net Income                              $

Income before income taxes 3,860

Income tax expense                <u>1,544</u>

Net income                              <u> 2,316</u>

<u />

Explanation:

Net income is calculated as income before income taxes minus income tax expense.

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