Question

Spila Motors Inc. earned income of $69,000 from its operating activities for a specified period. During the same period, it sold an asset and earned a gain of $3,000. It also incurred expenses on operating activities for $33,000 and on non-operating expenses for $8,000. What was the net profit made by Spila for the specified period?
A.
$41,000
B.
$72,000
C.
$31,000
D.
$39,000

Answer 1

The right answer is Option C.

Step-by-step explanation:

Income = $69000

Gain = $3000

Total earned= Income + Gain

$Total = 69000+3000=\ 72000$

Expenses on operating activities = $33000

Expenses on non operating activities = $8000

Total expenses = 33000+8000 = $41000

Profit = Total earned - Total expenses

$Net\ profit=72000-41000=\ 31000$

The net profit made by Spila was $31000.

The right answer is Option C.

Keywords: net profit, subtraction

Learn more about subtraction at:

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