Answer:
Revenue (Consulting revenue + Rental revenue)=33000+22000=55000.
Operating expense (salaries expense+rent expense)=20000+12000=32000
Selling and administrative expense = 8000
Explanation:
Armani Company
Year end Income statement 2019
Revenue = 55000
less: Operating expense =(<u>32000</u>)
Gross Profit 23000
less :Selling and administrative expense = (<u>8000</u>)
Net profit 15000
Notes: Question should be mentioned the company nature of business so that we can identify company real business.
The answer to this question is: Quality
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