Question: Based on the info provided, how would you calculate the annual net income? Annual Activities: Service Income $50,000 Accounts Receivable $2,000 Advertising Expense $1,000 License

Based on the info provided, how would you calculate the annual net income?

Annual Activities:

Service Income $50,000

Accounts Receivable $2,000

Advertising Expense $1,000

License Expense $500

Supplies Expense $5,000

Telephone Expense $3,000

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