MC Qu. 145 Determine the net income of a company for...
| Determine the net income of a company for which the following information is available: |
| Employee salaries expense | $ 187,000 |
| Interest expense | 17,000 |
| Rent expense | 27,000 |
| Consulting revenue | 470,000 |
| $470,000 | |
 | $239,000 |
| $231,000 | |
| $701,000 | |
| $258,000 |
| Expenses: $187,000 + $17,000 + $27,000 = $231,000 |
| Net income = $470,000 - $231,000 = $239,000 |
