What Would Be Misty's Net Income for the Current Year

question 107

Multiple Choice

What would be Misty's net income for the current year?

• A)$148.
• B)$168.
• C)$112.
• D)None of the amounts given are correct.

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Definitions:

Wholesaler

A person or company that buys goods in large quantities from manufacturers and sells them in smaller amounts to retailers or professional users.

Sale of Merchandise

The transaction process that occurs when a business sells its products, typically recorded as revenue on the income statement.

Gross Profit

The difference between total revenue and the cost of goods sold, representing the basic profit from sales before deducting any operating expenses.

Sales Revenue

The total amount of income generated by the sale of goods or services before deducting any expenses.