Question

Charlie's Chocolates' owner made investments of $66,000 and withdrawals of $28,000. The company has revenues of $99,000 and expenses of $72,000. Calculate its net income.

Answer 1

Answer:

$27,000

Explanation:

Charlie's chocolate has investments of $66,000

Withdrawals is $28,000

The company revenues is $99,000

Expenses is $72,000

Therefore the net income can be calculated as follows

= Revenue - expenses

= $99,000-$72,000

= $27,000

Hence the net income is $27,000