Greenwood Retailers generated revenues of $95,000 in June. The company's expenses were as follows: cost of goods sold of $60,000 and operating expenses of $7,000. Additionally, the company earned rent revenue of $4,000 and had a gain on the sale of equipment of $2,500. What is Greenwood Retailers' net income for June?

Greenwood Retailers generated revenues of $95,000 in June. The company's expenses were as follows: cost of goods sold of $60,000 and operating expenses of $7,000. Additionally, the company earned rent revenue of $4,000 and had a gain on the sale of equipment of $2,500. What is Greenwood Retailers' net income for June?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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