Ringold Retailers reports the following information at the end of the current year: What is Ringold's net income at year-end?
A) $135,000
B) $181,000
C) $146,000
D) $239,000

Question

Ringold Retailers reports the following information at the end of the current year:  What is Ringold's net income at year-end?
A) $135,000 
B) $181,000 
C) $146,000 
D) $239,000

Quizplus · Accepted Answer

Net Income = Sales Revenue - Cost of Goods Sold - Selling Expenses - General and Administrative Expenses = $452,000 - $213,000 - $58,000 - $46,000 = $135,000.

Ringold Retailers Reports the Following Information at the End of the Current