During October, Mica Inc.sold ordinary shares for €200,000, earned revenue of €22,000, incurred expenses of €12,000, and paid dividends of €1,000.Net income for the month is

Question

Quizplus · Accepted Answer

Net income is calculated as total revenue minus total expenses. Therefore, net income = €22,000 (revenue) - €12,000 (expenses) = €10,000. Dividends and sale of shares do not affect net income calculation.

During October, Mica Inc €9,000€ 9,000€9,000 B) €10,000€ 10,000€10,000 C) €209,000€ 209,000€209,000 D) €210,000€ 210,000€210,000

During October, Mica Inc $€ 9,000$ B) $€ 10,000$ C) $€ 209,000$ D) $€ 210,000$