at his comic book store, koreys comics, korey sells approximately $3,250 in comic books each month. but as a…

at his comic book store, koreys comics, korey sells approximately $3,250 in comic books each month. but as a comic book dealer, korey only pays $1,285 for these comic books. koreys monthly operating expenses, including labor, are $875. calculate koreys monthly net income. a. $1,090 b. $1,965 c. $2,375 d. $2,840

at his comic book store, koreys comics, korey sells approximately $3,250 in comic books each month. but as a comic book dealer, korey only pays $1,285 for these comic books. koreys monthly operating expenses, including labor, are $875. calculate koreys monthly net income. a. $1,090 b. $1,965 c. $2,375 d. $2,840

Answer

Answer:

A. $1,090

Explanation:

Step1: Calculate gross profit

Gross\ profit = Revenue - Cost\ of\ goods\ sold Gross\ profit=3250 - 1285=1965$

Step2: Calculate net income

Net\ income = Gross\ profit - Operating\ expenses Net\ income = 1965-875 = 1090$