Use the following information for questions
Stahl Consulting started the year with total assets of €60,000 and total liabilities of €15,000.During the year, the business recorded €48,000 in catering revenues and €24,000 in expenses.Stahl issued ordinary shares of €9,000 and paid dividends of €15,000 during the year.
-The net income reported by Stahl Consulting for the year was:

Question

Use the following information for questions 
Stahl Consulting started the year with total assets of €60,000 and total liabilities of €15,000.During the year, the business recorded €48,000 in catering revenues and €24,000 in expenses.Stahl issued ordinary shares of €9,000 and paid dividends of €15,000 during the year.
-The net income reported by Stahl Consulting for the year was:

Quizplus · Accepted Answer

Net income is calculated as total revenues minus total expenses. Therefore, net income = €48,000 (revenues) - €24,000 (expenses) = €24,000.

Use the Following Information for Questions