Question

Use this formula to help solve the problem.

net income = gross income - business expenses and deductions
Based on the following information, what does the net income for the month equal? Gross Income = $3,000, Expenses = $1,200, Deductions = $300

Responses

$2,700
$2,700

$1,500
$1,500

$1,200
$1,200

$800
$800

Answer 1

Net income = $3,000 - $1,200 - $300 = $1,500

Answer: $1,500