Homework Answers
ANSWER ::-
OPTION (4) = $22,000.
NET INCOME = REVENUE ( - ) EXPENSES.
REVENUE = $ 89,000.
EXPENSES = $ 67,000.
NET INCOME = $89,000 (-) $67,000 = $ 22,000.
NOTE :- Withdrawals will not come in income statement therefore they are not considered while calculating netincome.
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