EB2. CPK & Associates is a mid-size legal firm, specializing in closings and real estate law in the south. In 2019, they generated $945,000 in sales revenue. Their expenses related to this year’s revenue are shown: Based on the information provided for the year, what was their net operating income? Operating Expenses $312,000 Cost of service total cost per client $1,750 clients served in 2019225

Net Operating Income means Sales revenue after deducting cost of services and operating expenses of…

Answered: CPK & Associates is a mid-size legal…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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EB2. CPK & Associates is a mid-size legal firm, specializing in closings and real estate law in the south. In 2019, they generated $945,000 in sales revenue. Their expenses related to this year’s revenue are shown: Based on the information provided for the year, what was their net operating income?
Operating Expenses	$312,000
Cost of service
total cost per client	$1,750
clients served in 2019	225

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