Question

what is the companys net income, according to the following data. credit sales 80000 cash sales 500000 opperation expenses on credit 200000 chas operaitng expenses 700000 accounts receivable (beg o year) 50000 g

Answer 1

Answer:

$240,000

Explanation:

Note: Question is incomplete and the complete question is attached as picture below

Particulars                                       Amount

Total sales                                     $1,300,000 ($800000+$500000)

Less: Total operating expenses  $900,000  ($200000+$700000)

Income before tax                        $400,000

Less: Corporate tax                      $160,000   ($400,000*40%)

Net Income                                   $240,000