Business FinancesQuestion 312 of 1605
A contractor's income statement for the year shows revenue of $800,000, job costs of $560,000, and overhead of $160,000. What is the net profit?
a.$240,000
b.$160,000
c.$640,000
d.$80,000
Explanation
Net profit = Revenue − Job Costs − Overhead = $800,000 − $560,000 − $160,000 = $80,000.
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