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K5e-Z2g Company reported the following revenue and cost information for October: Sales revenue ............ $522,000 Variable costs ........... $318,420 Fixed costs .............. $114,840 K5e-Z2g Company
K5e-Z2g Company reported the following revenue and cost information for October: Sales revenue ............ $522,000 Variable costs ........... $318,420 Fixed costs .............. $114,840 K5e-Z2g Company re-negotiated it lease beginning in November. The old lease required fixed payments of $16,000 per month. The new lease eliminated these payments and instead required a monthly payment equal to 4% of sales for the month. K5e-Z2g Company reported sales revenue of $543,000 for the month of November. Calculate the net income reported by K5e-Z2g Company in November.
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