Nassau Farms, Ltd., made sales of $750,000 and had cost of goods sold of $410,000. Inventory decreased

Question:

Nassau Farms, Ltd., made sales of $750,000 and had cost of goods sold of $410,000.

Inventory decreased by $10,000 and accounts payable decreased by $12,000. Operating expenses were $180,000. How much was Nassau Farms’s net income for the year?

a. $150,000

c. $148,000

b. $160,000

d. $340,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 100% (QA)

Answered By

Hemstone Ouma

"Hi there! My name is Hemstone Ouma and I am a computer scientist with a strong background in hands-on experience skills such as programming, sofware development and testing to name just a few. I have a degree in computer science from Dedan Kimathi University of Technology and a Masters degree from the University of Nairobi in Business Education. I have spent the past 6 years working in the field, gaining a wide range of skills and knowledge. In my current role as a programmer, I have had the opportunity to work on a variety of projects and have developed a strong understanding of several programming languages such as python, java, C++, C# and Javascript. In addition to my professional experience, I also have a passion for teaching and helping others to learn. I have experience as a tutor, both in a formal setting and on a one-on-one basis, and have a proven track record of helping students to succeed. I believe that with the right guidance and support, anyone can learn and excel in computer science. I am excited to bring my skills and experience to a new opportunity and am always looking for ways to make an impact and grow as a professional. I am confident that my hands-on experience as a computer scientist and tutor make me a strong candidate for any role and I am excited to see where my career will take me next.

5.00+ 8+ Reviews 23+ Question Solved

Related Book For book-img-for-question