Summarized operations for J. R. Ewing Co. for the month of July are as follows. Revenues earned:

Question:

Summarized operations for J. R. Ewing Co. for the month of July are as follows. Revenues earned: for cash $20,000; on account $70,000. Expenses incurred: for cash $26,000; on account $40,000. Indicate for J. R. Ewing Co.
(a) The total revenues,
(b) The total expenses, and
(c) Net income for the month of July.