Colfax Corporation's financial statements for the current year include the following: On the basis of this information, net income for the current year is:

Name: Colfax Corporation's financial statements for the current year include the following: On the basis of this information, net income for the current year is:
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Question

Quizplus · Accepted Answer

Net income is calculated by subtracting expenses from revenue. In this case, revenue is $2,027,800 and expenses are $776,600, so net income is $2,027,800 - $776,600 = $1,251,200.

Colfax Corporation's Financial Statements for the Current Year Include the Following