At year-end, KC Consulting had Service Revenue of $365,000. Other pertinent data is as follows: What is the net income for KC Consulting at year-end?
A) $132,000
B) $214,000
C) $217,000
D) $242,000

Question

At year-end, KC Consulting had Service Revenue of $365,000. Other pertinent data is as follows:  What is the net income for KC Consulting at year-end?
A) $132,000 
B) $214,000 
C) $217,000 
D) $242,000

Quizplus · Accepted Answer

Net Income = Sales Revenue - Salaries and benefits expense - Rental fees expense - Depreciation expense - Marketing and selling expense = $365,000 - $72,000 -$51,000 - $16,000 - $9,000 = $217,000.

At Year-End, KC Consulting Had Service Revenue of $365,000