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2 years ago

The financial statements for Harold Corporation contained the following information:

Business

1 answer:

vagabundo [1.1K]2 years ago

7 0

Answer:

so net income is $45000

Explanation:

given data

Accounts receivable = $5000

Sales revenue = 75000

Cash = 15000

Salaries and wages expense = 20000

Rent expense = 10000

to find out

net income

solution

we will find net income by the given expression as

net income = Sales revenue - Rent expense - Salaries and wages expense .......................1

put here all these value in equation 1 we get net income

net income = 75000 - 10000 - 20000

net income = 45000

so net income is $45000

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