Fill in the missing information from the income statement.
January 1 to December 31,2017
(amounts in thousands)
What is the value for Revenue?
Please specify your answer in the same units as the income statement.
Net income is the synonym of net profit, which comes after deducting the total cost( variable as well as fixed) from the total Revenue ( from all the sources, bussiness or non business activities). This profit is not very much reliable because it contains the elements of subjectivity.
Answer and Explanation:
Revenue - Expenses = net income
Revenue =$ 2900 +$2100=$5000
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Learn more about this topic:
from OSAT Business Education (CEOE) (040): Practice & Study GuideChapter 69 / Lesson 5