Hello, I am trying to calculate the net income of a company from information that is available from its recent fiscal year. I know how to calculate net income, but I am asking if the following are expenses or revenues.
- cash sales
- sales on account
- interest earned on investment (I think this is an expense, but I am not sure)
- inventory purchased for resale
- long term loan received AND
- common stock issued for cash.
Thank you in advance!
emikif