What is the annual net income (in /year and answer as an absolute value)?
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Annual net income is found through the method valuation where the expenses are subtracted from the total revenue for the year. The remaining amount of expenses is referred to the annual net income
Explanation:
- The the annual net income for an individual is the income that he takes home with him at the end of the year after deducting the taxes, premiums for health insurances and contributions to pre-tax retirement and other work-related expenses.
- A company which achieves negative annual net income at the end of the year is operating at a loss. On the other a company which valuates at a positive annual net income at the end of year is operating on profits.
- The annual net income is found by the formula --
Annual Net Income = Total Revenue – Total Expenses
To know more about taxes
Which tax is an indirect tax? corporate income tax federal income tax property tax sales tax
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