If a business has revenue of $677,000, cost of goods sold of $214,000, operating expenses of $157,000, and pays $70,000 in taxes, what is the net income?
If a business has revenue of $677,000, cost of goods sold of $214,000, operating expenses of $157,000, and pays $70,000 in taxes, what is the net income?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...
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Question
What is the net income?
Transcribed Image Text:If a business has revenue of
$677,000, cost of goods sold of
$214,000, operating expenses of
$157,000, and pays $70,000 in
taxes, what is the net income?
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