Question

Time Left:0:40:15 Mikala Baburam: Attempt 1 4) Minimizing risk of the firm Question 2 (2 points) Your firm has the following income statement items: Sales of $50,100, costs (expenses) of $43,700, income tax of $1,700, depreciation of $1,300, interest expense of $750. What is net income? 1) $4,700 O2) $4,050 3) $2,650 4) $6,400
You firm the following income statement items: sales of $50,100 costs (expenses) of $43,700 income tac of $1,700 depreciation of $1,300 interesf expense of $750. What is net income?

Answer 1

Correct Option 3), $2,650
Calculation of Net INCOME
Sales	50,100
Other Expenses	(43,700)
Depreciation Expense	(1,300)
Interest Expense	(750)
Income tax expense	(1,700)
Net Income/(Loss)	2,650