Dr. Foster's primary care practice had net medical service revenue of $500,000 for the year. Salaries and
Fantastic news! We've Found the answer you've been seeking!
Question:
Dr. Foster's primary care practice had net medical service revenue of $500,000 for the year. Salaries and benefits for the year, including draws for Dr. Foster, were $350,000. Other operating expenses, excluding payments on a bank loan, were $100,000. Payments on the bank loan for the year were $50,000 on principal and $20,000 for interest.
What was the net income for the practice for the year? Do the math until the final result, and indicate the units of measurement.
Related Book For
College Physics
ISBN: 978-0495113690
7th Edition
Authors: Raymond A. Serway, Jerry S. Faughn, Chris Vuille, Charles A. Bennett
Posted Date: