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A company reports the following information as of December 31st: Sales revenue $ 350,000 Cost of goods sold $ 150,000 Operating expenses $ 110,000 Foreign currency translation gain $ 25,000 Ignoring income taxes, what amount should the company report as net income as of December 31st?\

Respuesta :

Answer:

$90,000

Explanation:

Sales revenue $350,000

Cost of goods sold $150,000

Operating expenses $110,000

Foreign currency translation gain $25,000

Gross profit= sales revenue - the cost of goods sold

=$350,000-$150,000

=$200,000

Net income = Gross profit - Operating expenses

=$200,000 - $110,000

=$90,000