Multiple Choice
During August, 2018, Baxter's Supply Store generated revenues of $60,000. The company's expenses were as follows: cost of goods sold of $36,000 and operating expenses of $4,000. The company also had rent revenue of $1,000 and a gain on the sale of a delivery truck of $2,000. Baxter's net income for August, 2018 is
A) $20,000.
B) $21,000.
C) $23,000.
D) $24,000.
Correct Answer:
Verified
Correct Answer:
Verified
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