Question
Using the following information, compute NET INCOME. Cost of Goods Sold $ 6,000 Interest Expense 1,100 Selling and Administrative Expense 750 Cash 400 Sales 10,000
Using the following information, compute NET INCOME.
| Cost of Goods Sold | $ 6,000 |
| Interest Expense | 1,100 |
| Selling and Administrative Expense | 750 |
| Cash | 400 |
| Sales | 10,000 |
| Wages Payable | 250 |
| Dividends | 700 |
| Retained Earnings (beginning) | 1,000 |
| Income Tax Expense | 1,200 |
|
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Accounting Information For Business Decisions
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
2nd Edition
9780170253703
