A organization had gross earnings from income in the quantity of $180,000, working charges of $90,000, and federal earning taxes of $20,000. The organization's internet earnings after taxes is c. $70,000.
The required details for gross profits in given paragraph
The gross income of a agency is the overall income of the organization minus the overall value of the products bought. The overall income are all the products bought with the aid of using the agency. The overall value of the products bought is the sum of all of the variable charges worried in income. Two vital profitability metrics for any agency include gross income and internet earnings. Gross income represents the earnings or income ultimate after the manufacturing charges had been subtracted from revenue. Revenue is the quantity of earnings generated from the sale of a agency's items and services.
Gross income enables traders to decide how a lot income a agency earns from the manufacturing and sale of its items and services. Gross income is on occasion mentioned as gross earnings.
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Complete question
A firm had gross profits from sales in the amount of $180,000, operating expenses of $90,000,
and federal incomes taxes of $20,000. What was the firm's net income after taxes?
a. $10,000
b. $20,000
c. $70,000
d. $90,000
e. $200,000
