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Sagot :
The amount of the net income is $1554.
What is Net Income?
Net income, in both business and accounting, is an entity's revenue less costs, depreciation and amortization, interest, and taxes for a certain accounting period. The amount earned by an individual or business after costs, allowances, and taxes is referred to as net income. Net income in company is the amount that remains after all costs, such as salaries and wages, the cost of goods or raw materials, and taxes, have been paid.
The performance of various businesses in a given industry is analyzed and compared using a variety of financial measurements. Efficiency ratios, liquidity ratios, profitability ratios, and solvency ratios are the typical categories for these ratios.
The net income is given by:
=Return on Equity* Total equity
= 21%* $7,400
=$1554.
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