Multiple Choice
If Dylan paid a plumber \$120 for 4 hours of labor, what is the plumber's hourly rate?
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4. Merchandising Operations
Net Sales
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
If a company has net sales of \$100 and expenses of \$30, what is the net income?
A
\$30
B
\$130
C
\$100
D
\$70
Verified step by step guidance1
Step 1: Understand the formula for calculating net income. Net income is calculated as: Net Income = Net Sales - Expenses.
Step 2: Identify the values provided in the problem. Net sales are given as \$100, and expenses are given as \$30.
Step 3: Substitute the values into the formula. Using MathML, the formula becomes: . Substituting the values: .
Step 4: Perform the subtraction operation to determine the net income. This involves subtracting the expenses from the net sales.
Step 5: Verify the result to ensure accuracy and confirm that the net income calculation aligns with the provided correct answer of \$70.
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