what is acme corporations net income or net loss if it had the following during october:\nrevenue…

what is acme corporations net income or net loss if it had the following during october:\nrevenue $2,800\nsalary expense $500\nutility expense $250\nwithdrawals $5,000\nanswer\n$2,050 net income\n$2,200 net loss\n$2,950 net loss\n$2,300 net income\ni dont know yet

what is acme corporations net income or net loss if it had the following during october:\nrevenue $2,800\nsalary expense $500\nutility expense $250\nwithdrawals $5,000\nanswer\n$2,050 net income\n$2,200 net loss\n$2,950 net loss\n$2,300 net income\ni dont know yet

Answer

Explanation:

Step1: Calculate total expenses

Total expenses = Salary expense + Utility expense Total expenses = $500 + $250 = $750

Step2: Calculate net income

Net income = Revenue - Total expenses Net income = $2800 - $750 = $2050

Answer:

$2,050 net income