Proof of income statement.
Revenue
Service revenue 38300
Expense
Salaries and wages expense 15700
Insurance Expense 2300
Rent Expense 4600
Supplies expense 1200
Depreciation Expense 1400
Total expense 25200
Net income 13100
Sales are the sum of the revenue generated from the sale of goods or services related to the company's main activities. Income, also known as gross income, is often referred to as the "top line" because it is at the top of the income statement. Income or net income is the total profit or profit of the business.
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Answer:
A circular definition is one that uses the term(s) being defined as a part of the definition or assumes a prior understanding of the term being defined. There are several kinds of circular definition, and several ways of characterising the term: pragmatic, lexicographic and linguistic.
