HELP! Select the correct answer.
Given the following income statement, what is the net income for a given accounting period assuming taxes are $25,000?

Item $
Revenues
Sales 200,000

Expenses
Expenses 15,000
Interest expense 5,000
Cost of goods sold 60,000

Pre-tax income 60,000

Net income

A.
$120,000
B.
$60,000
C.
$35,000
D.
$140,000
E.
$95,000

d

Explanation:

n

explanation:

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.