Question

Claton Industries has revenues of $128,000 for 2020. Their operating expenses are $80,000, and the income tax is $12,000. What is the net income for this company

Answer 1

Based on the information given the net income for this company is $36,000.

Net income

Using this formula

Net income=Revenues-Expenses

Where:

Revenues=$128,000

Expenses=$80,000+$12,000=$92,000

Let plug in the formula

Net income=$128,000-$92,000

Net income=$36,000

Inconclusion the net income for this company is $36,000.

Learn more about net income here:https://brainly.com/question/15530787