The income statement has net income of $4710.
<h3>Income statement</h3>
Income statement for the year ended November 30, 2020
Repair Revenue $9900
Installation fees $1600
Total revenue $11,500
Expenses:
Salaries expense $2600
Rent expense $2000
Advertising expense $850
Supplies expenses $185
Utilities expense $235
Insurance expense $150
Delivery expense $770
Total expenses $6790
Net income $4710
($11,500-$6790)
Therefore the income statement has net income of $4710.
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Answer:
A. Brice has caused Susie to experience duress
Explanation:
Based on the information given BRICE HAS CAUSED SUSIE TO EXPERIENCE DURESS is true regarding Brice's attempt to obtain additional fees based on the fact Brice is threatening , Forcing and persuading Susie to do things against her will by threatening to report her due to her failure to pay income tax because she said that Brice does not have the legal right to obtain the money from the estate unless she kept her mouth shut and agree to the terms of the contract, which inturn makes Brice to attempt to collect additional fees based on Sam divorce case in return for not reporting her.
No, because the manufacturing industries had a different set-up than the service sector. The manufacturing industries are driven to produce quality products with minimal regard to how their actions have an effect on the customers. They only had to produce good products. The service sector requires interpersonal skills that requires training and development.
Answer:
The answer is:
1. N
2. L
3. C
4. N
5. L
6. N
7. C
8. C
9. C
10. L
Explanation:
Current liability is the type of liability whose obligations are due within a year.
Long-term liability is the type of liability whose obligations are due in more than a year's time i.e it has a lifespan of more than a year.
1. Machinery (expected life of 4 years) - N
2. Notes payable (mature in five years). - L
3. Accounts payable (due in 30 days). - C
4. Patents (to expire after 5 years) - N
5. Notes payable (due in 13 to 24 months) - L
6. Prepaid Insurance (6 months of coverage). - N
7. Current portion of long-term debt - C
8. Unearned revenues (to be earned over next 3 months) - C
9. FUTA taxes payable - C
10. Pension liability (to be paid to employees retiring in 2 to 5 years) - L
Answer:
the one share of this stock worth today is $3.15
Explanation:
The computation of the one share of this stock worth today is shown below:
= Dividend per share ÷ (1 + required rate of return^years) + Dividend per share ÷ (1 + required rate of return^years) + Dividend per share ÷ (1 + required rate of return^years)
= ($1.20 ÷ 1.07^1) + ($1.20 ÷ 1.07^2) + ($1.20 ÷ 1.07^3)
= $3.15
hence, the one share of this stock worth today is $3.15