The following information relates to Blake Auto Supply. $$\begin{array} { | l | r | }
\hline \text { Net Sales Revenue } & \$ 191,000 \
\hline \text { Cost of Goods Sold } & 150,000 \
\hline \text { Interest Revenue } & 12,000 \
\hline \text { Operating Expenses } & 40,000 \
\hline
\end{array}$$ Calculate the net income of Blake Auto Supply.
A) $1,000
B) $13,000
C) $64,000
D) $220,000

Question

The following information relates to Blake Auto Supply. $$\begin{array} { | l | r | } 
\hline \text { Net Sales Revenue } & \$ 191,000 \
\hline \text { Cost of Goods Sold } & 150,000 \
\hline \text { Interest Revenue } & 12,000 \
\hline \text { Operating Expenses } & 40,000 \
\hline
\end{array}$$ Calculate the net income of Blake Auto Supply.
A) $1,000
B) $13,000
C) $64,000
D) $220,000

Quizplus · Accepted Answer

Net income is calculated as Net Sales Revenue - Cost of Goods Sold + Interest Revenue - Operating Expenses = $191,000 - $150,000 + $12,000 - $40,000 = $13,000.

The Following Information Relates to Blake Auto Supply Calculate the Net Income of Blake Auto Supply