Below is last month's business income statement for korey's comics. using the information provided in the statement, determine net income for korey's comics last month. korey? s comics monthly business income statement revenue sales: $6,825 returns: $215 net sales: cost of goods sold beginning inventory: $780 purchases: $1,795 goods available for sale: ending inventory: $795 total cost of goods sold: gross profit: : operating expenses wages: $1,460 rent: $650 utilities: $185 advertising: $90 taxes: $125 total operating expenses: net income: a. $2,320 b. $2,510 c. $4,830 d. $6,610

Based on the information given the net income is $2320.

Using this formula

Net Income = Gross Profit - Operating Expenses

Where:

Net Sales = Revenue - Returns

Net sales=$6,825 -$215

Net sales=$6610

Cost of goods sold= Beginning Inventory + Purchase - Ending Inventory

Cost of goods sold =$780 + $1,795 - $795

Cost of goods sold=$1780

Gross Profit = Net Sales - Cost of goods sold

Gross profit =$6610 - $1780

Gross profit=$4830

Operating Expenses:

Wages     $1,460

Rent         $650

Utilities     $185

Advert      $90

Tax          $125

Total Operating Expenses $2,510

Let plug in the formula

Net income=$4,830 - $2510

Net income=$2320

Inconclusion the net income is $2320.

Learn more about net income here:link

i leave the calculator work to you.

7. diameter 4 miles, circumference 4π miles

8. radius 0.2 miles, circumference 0.4π miles

[this is a bad problem because the actual radius of a car on the track is less than 0.2 miles so the answer is less than 0.4π miles]

9. radius 6 feet, circumference 12π feet

10. diameter 14 cm, circumference 14π cm

11. diameter 4.8 feet, circumference 4.8π feet