Answer:
Net income equals: $120,075.
Step-by-step explanation:
The net income is equal to:
+Sales
-Sales discounts
-Sales returns and allowances
-Cost of goods cold
-Operating expenses.
Computing all these values, we have:
Net income =Sales - (Sales discounts+Sales returns and allowances+Cost of goods cold+Operating expenses)
The net income equals to $120,075.