Compute net income:
CGS 30,000
Interest expense 47,000
Cash 4,500
Retained earnnings 15,000
Sales 150,000
A/P 20,000
Rent Revenue 1,000
Machinery 60,000
Am I computing Net income correctly?
Net Income = 74,000
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Compute net income:
CGS 30,000
Interest expense 47,000
Cash 4,500
Retained earnnings 15,000
Sales 150,000
A/P 20,000
Rent Revenue 1,000
Machinery 60,000
Am I computing Net income correctly?
Net Income = 74,000
Yes, you are correct.Quote:
Originally Posted by janemorales
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