Take to total number of people attending and subtract the number of adults. The remainder are the children
2,451 - 745 = 1,706
Answer:
kt 5.20 yes
Step-by-step explanation:
The preparation of Reading Readiness, Inc.'s multi-step Income Statement for the month ended January 31 is as follows:
Reading Readiness, Inc.
Income Statement
For the month ended January 31
Sales Revenue $175,500
Less:
Sales Returns 4,700
Sales Discounts 6,000
Net Sales $164,800
Cost of Goods Sold 67,700
Gross profit $97,100
Expenses:
Salaries and Wages $25,900
Depreciation Expense 13,800
Rent Expense 24,000
Operating expenses $63,700
Operating income $33,400
Interest Expense 1,600
Income before tax $31,800
Income tax expense 7,700
Net income $24,100
Data and Calculation:
Gross profit percentage = 59% ($97,100/$164,800 x 100)
Thus, the net income after deducting the income tax expense is $24,100.
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