During 2020, Brenda's Bookstore (BB) opened ten new locations in the greater metro area. During 2020, the following took place for these new locations:
Revenue recognition: BB sold $90,000 of books for which it received cash at the time of the sale; sold $230,000 of books on credit, of which $20,000 remains a receivable at the end of 2020; and received $80,000 cash for gift cards, of which $10,000 has not been redeemed by customers as of the end of 2020.
Matching: BB incurred $50,000 in salaries and wages, of which $5,000 was unpaid by year-end; incurred and paid $60,000 in rent; paid $130,000 for books, of which $10,000 were either on the shelves or in the warehouses at year-end 2020.

INSTRUCTIONS:
a. Calculate the amount of revenue that BB should recognize during 2020 from these ten new locations.
b. Calculate the amount of expense that BB should show during 2020 from these ten new locations.
c. Calculate the 2020 net income from these ten new locations.