For the most recent year, Grant Company reported revenues of $150,000, cost of goods sold of $84,000,
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For the most recent year, Grant Company reported revenues of $150,000, cost of goods sold of $84,000, inventory of $5,000, salaries expense of $40,000, rent expense of $15,000, and cash of $20,000. What was Grant’s net income?
a. $66,000
b. $11,000
c. $26,000
d. $95,000
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Related Book For
Cornerstones Of Financial Accounting Current Trends Update
ISBN: 9781111527952
1st Edition
Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen
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