Question

Calculate the net income for jupiter inc. whose total revenue is $1,000,000, and total expenses, inclusive of taxes, is $500,000.

Answer 1

Net income is also called net profit. Its formula is: Net income= Total Revenue-Total expensesTotal revenue: 1,000,000Total expenses and taxes: 500,000Net income= 1,000,000-500,000Net income= $500,000