During October, Mica Inc. sold ordinary shares for €600,000, earned revenue of €66,000, incurred expenses of €36,000, and paid dividends of €3,000. Net income for the month is

Name: During October, Mica Inc. sold ordinary shares for €600,000, earned revenue of €66,000, incurred expenses of €36,000, and paid dividends of €3,000. Net income for the month is
Brand: Quizplus
Rating: 4.9 (54 reviews)

Question

Quizplus · Accepted Answer

Net income is calculated as total revenue minus total expenses. Therefore, €66,000 (revenue) - €36,000 (expenses) = €30,000.