Homework Answers
Answer: b. Net income is $ 3,580
Explanation
| Calculation of Net Income | ||
| $ | $ | |
| Fees Earned | 9,250.00 | |
| Less Expenses: | ||
| Wages Expenses | 2,500.00 | |
| Rent Expenses | 1,960.00 | |
| Utilities Expenses | 775.00 | |
| Depreciation Expenses | 250.00 | |
| Miscellaneous Expenses | 185.00 | |
| Total Expenses | 5,670.00 | |
| Net Income | 3,580.00 |
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