How much was Dev's net income? Dev Corporation's financial statements contained thefollowing information:Accounts ReceivableSales RevenueCash$6,000$82,000$18,000Salaries and Wages Expense $25,000Rent Expense$12,000How much was Dev's net income?a. $60,000b. $15,000c. $65,000d. $45,000

Step 1: Introduction to income statementIncome statement is referred to as the financial statement…

Answered: Dev Corporation's financial statements…

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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Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to find
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Dev Corporation's financial statements contained the following information: Accounts Receivable Sales Revenue Cash $6,000 $82,000 $18,000 Salaries and Wages Expense $25,000 Rent Expense $12,000 How much was Dev's net income? a. $60,000 b. $15,000 c. $65,000 d. $45,000