Question: I need help with this general accounting question using the proper accounting approach. ABC Corporation reported total revenues of $500,000, total expenses of $320,000, and

I need help with this general accounting question using the proper accounting approach.

ABC Corporation reported total revenues of $500,000, total expenses of $320,000, and income tax expense of $40,000 for the year. What is the company's net income for the year? A) $180,000 B) $140,000 C) $220,000 D) $160,000

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