Question

If assets total 45,000, expenses total 10,000, revenues total 35000, and stockholders' equity equals 30,000 what is the amount of net income?

Answer 1

Answer:

$25,000

Explanation:

Calculation for the what is the amount of net income

Using this formula

Net income= Total Revenues-Total expenses

Let plug in the formula

Net income= 35,000+10,000

Net income=$25,000

Therefore the amount of net income will be $25,000