last month, koreys comics had a gross profit of $4,370 and a net income of $3,500. calculate koreys…

last month, koreys comics had a gross profit of $4,370 and a net income of $3,500. calculate koreys operating expenses for last month.\na. $787\nb. $870\nc. $7,870\nd. $8,700\nplease select the best answer from the choices provided\no a\no b\no c\no d

last month, koreys comics had a gross profit of $4,370 and a net income of $3,500. calculate koreys operating expenses for last month.\na. $787\nb. $870\nc. $7,870\nd. $8,700\nplease select the best answer from the choices provided\no a\no b\no c\no d

Answer

Explanation:

Step1: Recall the profit - income formula

Net income = Gross profit - Operating expenses.

Step2: Rearrange the formula to find operating expenses

Operating expenses = Gross profit - Net income.

Step3: Substitute the given values

Operating expenses = $4370 - 3500$. $4370-3500 = 870$.

Answer:

B. $870$