Given this information, calculate the net profit for the business.

Sales revenue 102,980
Unearned revenue 8,057
Dividends 5,886
Cost of sales 35,941
Interest revenue 3,273
Operating expenses 18,270
Income tax expense 2,115

Question

Given this information, calculate the net profit for the business.

Sales revenue	102,980
Unearned revenue	8,057
Dividends	5,886
Cost of sales	35,941
Interest revenue	3,273
Operating expenses	18,270
Income tax expense	2,115

BlackTom AI · Accepted Answer

To determine net profit, start by identifying the revenue components and the expenses.
First, combine all operating and non-operating revenues: Sales revenue is 102,980 and Interest revenue is 3,273. Together, these give total revenues of 102,980 + 3,273 = 106,253.
Next, separate items that are not revenues or should not be included as revenue for net profit. Unearned revenue is a liability, not earned revenue, so it should not be added to revenue. Dividends are distributions to shareholders and do not count as operating revenue.
Now, calculate total expenses: Cost of sales is 35,941; Operating expenses are 18,270; Income tax expense is 2,115. Adding these yields total expenses of 35,941 + 18,270 + 2,115 = 56,326.
With total revenues and total expenses identified, compute net profit as revenues minus expenses: 106,253 − 56,326 = 49,927.
Therefore, the net profit to report is 49,927, derived from subtracting the appropriate expenses from the total earned revenues. Keep in mind the exclusion of unearned revenue and dividends from revenue and the inclusion of interest revenue as part of total revenues. If any component were misclassified (for example treating unearned revenue as revenue or including dividends in revenue), the net profit would be miscalculated.

BACC011 Week 2: Practice Quiz

Given this information, calculate the net profit for the business. Sales revenue 102,980 Unearned revenue 8,057 Dividends 5,886 Cost of sales 35,941 Interest revenue 3,273 Operating expenses 18,270 Income tax expense 2,115

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