11th ed prob 17-24

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find the net income of turbo start(prob. 17-17) given the following data from the balance sheet and income statement.
turbo start data($1000s)
accounts payable $1000
selling expense $5000
sales revenue $50000
owner's equity $4500
income taxes $2000
cost of goods sold $30000
accounts receivable $15000

answer is:$13,000,000

(note: prob 17-17 says turbo start has current assests totaling $1.5million and current liabilities totaling $50,000).
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