ben owns a print shop. last quarters income was $8,000, his cost of goods was $650, and his total expenses…

ben owns a print shop. last quarters income was $8,000, his cost of goods was $650, and his total expenses were $4,300. what are bens net income and gross income for the last quarter?\nnet income = $3,500 and gross income = $7,350\nnet income = $3,050 and gross income = $7,350\nnet income = $7,350 and gross income = $3,050\nnet income = $3,050 and gross income = $7,530

ben owns a print shop. last quarters income was $8,000, his cost of goods was $650, and his total expenses were $4,300. what are bens net income and gross income for the last quarter?\nnet income = $3,500 and gross income = $7,350\nnet income = $3,050 and gross income = $7,350\nnet income = $7,350 and gross income = $3,050\nnet income = $3,050 and gross income = $7,530

Answer

Explanation:

Step1: Calculate gross income

Gross income = Income - Cost of goods Gross income = $8000 - 650=$7350$

Step2: Calculate net income

Net income = Gross income - Total expenses Net income = $7350 - 4300=$3050$

Answer:

Net income = $3,050 and Gross income = $7,350