if a company makes $2 million in total revenue and its first year of operation but it’s total expenses including taxes are $1 million then what is that companies net income?

Answer 1

To calculate the net income of the company, you subtract the total expenses from the total revenue.

Total Revenue: $2,000,000
Total Expenses: $1,000,000

Net Income = Total Revenue - Total Expenses
Net Income = $2,000,000 - $1,000,000
Net Income = $1,000,000

Therefore, the company's net income is $1 million.