Question

a company has net sales of $126,000, cost of goods sold of $72,000, operating expenses of $38,000, and other expenses of $3,000. the company's net income is

Answer 1

Answer:

$13,000

Explanation:

Net income= net sales -net expenditure

in this case:

net sales=$126,000

net expenses =  $113,000 {COGS + operating exp.+other exp.}

Net income= $126,000-$113,000

                    =$13,000