8
QuizMultiple Choice

Business Income Statements

Question 8 • FowU - Financial Math - B

Last month, Korey’s Comics had a gross profit of $4,370 and a net income of $3,500. Calculate Korey’s operating expenses for last month.

Answer
A
$787
B
$870
C
$7,870
D
$8,700

Explanation

Net income equals gross profit minus operating expenses. Rearranging gives operating expenses = gross profit − net income = $4,370 − $3,500 = $870. Therefore, the correct choice is $870.

AI-written and checked against the verified answer.

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