Eagle Company had $78,000 of inventory. Then, Eagle sold some inventory to a customer; the customer...

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Eagle Company had $78,000 of inventory. Then, Eagle sold some inventory to a customer; the customer paid $129,000 cash. After the sale, Eagle had $13,000 of inventory on hand. Payroll Expense was $12,000 and Utilities Expense was $2000. What is the amount of net income? Eagle Company had $78,000 of inventory. Then, Eagle sold some inventory to a customer; the customer paid $129,000 cash. After the sale, Eagle had $13,000 of inventory on hand. Payroll Expense was $12,000 and Utilities Expense was $2000. What is the amount of net income?

Answer rating: 100% (QA)

SOLUTION To calculate the net income you need to consider the revenue and su... View the full answer