During 2022, Parker Enterprises generated revenues of $90,000.The company's expenses were as follows: cost of goods sold of $45,000, operating expenses of $18,000 and a loss on the sale of equipment of $3,000. Parker's net income is

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Net income is calculated by subtracting total expenses from total revenues. Here, total expenses include the cost of goods sold ($45,000), operating expenses ($18,000), and the loss on the sale of equipment ($3,000), totaling $66,000. Subtracting this from the revenues of $90,000 gives a net income of $24,000.

During 2022, Parker Enterprises Generated Revenues of $90,000