Question

if revenue of the business is ₹170000 cost of the goods sold ₹60000 and other expenses ₹35000 calculate net income of the business
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Answer 1

Answer:

gross profit = Revenue - cost of goods sold

= 170000-60000

= 110000

Net income = gross profit - other expenses

= 110000-35000

= 75000

Answer 2

Answer:

Net Income = ₹ 75,000

Explanation:

Given :

• Revenue of the business = ₹ 1,70,000

• Cost of Goods Sold = ₹ 60,000

• Other Expenses = ₹ 35,000

To find :

• Calculate Net Income of the business

Solution :

★ Net Income = Gross Income - Other Expenses

Calculate Gross Income

• Gross Income = Revenue - Cost of Goods Sold

⇒ 1,70,000 - 60,000

⇒ 1,10,000

Gross Income = ₹ 1,10,000

Net Income = Gross Income - Other Expenses

⇒ 1,10,000 - 35,000

⇒ 75,000

Net Income = ₹ 75,000

Therefore,

Net Income = ₹ 75,000