Answered: If a business has revenue of $677,000,…

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

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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