WileyPLUS C Secure https://edugen.wileyplus.com/edugen/student/mainfr.uni Kimmel

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WileyPLUS C Secure https://edugen.wileyplus.com/edugen/student/mainfr.uni Kimmel, Accounting, 6e Read, Study & Practice Gradebook ORION Downloadable eTextboolk nent> Open Assigement Brief Exercise 5-7 (Part Level Submission) The following information relates to Marin Inc. for the year 2017 Assignment $1,400 8,110 2,420 310 Advertising expense Retained earnings, January 1, 2017 Dividends during 2017 Service revenue Salaries and wages expense 37,440 3,900 Rent expense 48,750 Utilities expense 21,840 Other comprehensive income (net of tax) . em 2-18 (a) Score Your answer is incorrect. Try again After analyzing the data, compute net income Net income /(loss) LINK TO TE

Explanation / Answer

Net income = Service revenue - Salaries and wages - Advertising - Rent - utilities

= 48750 - 21840 - 1400 - 8110 - 2420

= 14980

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