Homework Help is Here – Start Your Trial Now!
Business
Accounting
Thompson Corp has revenue of $735,000, cost of goods sold of $248,000, operating expenses of $169,000, and pays $85,000 in taxes. What is the net income?

Thompson Corp has revenue of $735,000, cost of goods sold of $248,000, operating expenses of $169,000, and pays $85,000 in taxes. What is the net income?

Intermediate Accounting: Reporting And Analysis
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...
See similar textbooks
icon
Related questions
Question
100%

I need answer ✅

Thompson Corp has revenue of $735,000, cost of goods sold of $248,000, operating expenses of $169,000, and pays $85,000 in taxes. What is the net income?
Transcribed Image Text:Thompson Corp has revenue of $735,000, cost of goods sold of $248,000, operating expenses of $169,000, and pays $85,000 in taxes. What is the net income?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS