The following table shows the annual income statement of Max Computers.Table 9.3

-Refer to the Table 9.3. The net income of Max Computers is:
A)$10,000 million.
B)$25,000 million.
C)$11,000 million.
D)$13,000 million.
E)$12,500 million.

Question

The following table shows the annual income statement of Max Computers.Table 9.3
 
-Refer to the Table 9.3. The net income of Max Computers is:
A)$10,000 million. 
B)$25,000 million. 
C)$11,000 million. 
D)$13,000 million. 
E)$12,500 million.

Quizplus · Accepted Answer

To calculate net income, we deduct all expenses (including taxes) from the total revenue. In this case, the net income of Max Computers is $11,000 million, which is the result of subtracting $12,000 million (total expenses) from $23,000 million (total revenue). Therefore, the correct answer is choice C.

The Following Table Shows the Annual Income Statement of Max