Answer:
Net Income for the year is $95,000.
Explanation:
The income which is calculated by deducting all the related expense from the revenue even after interest and taxes. Net Income is the amount which is available to distribute amount the stockholders, either preferred or common.
As we know
Net Income = Revenue - Expenses
Revenue = $164,000
Expenses = $69,000
Net Income = $164,000 - $69,000
Net Income = $95,000
Answer:
$164,000
Explanation:
Given that
Revenue = 328000
Expenses = 164000
Recall that
Net income = Total revenue - total expenses
Therefore,
Net income = 328000 - 164000
= $ 164000
Note that, net income is the total revenue less total expenses, that is the measure of profitability which indicates the amount available to be distributed amongst stockholders.
