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

Sales revenue 106,057
Unearned revenue 1,275
Dividends 2,805
Cost of sales 37,054
Interest revenue 4,155
Operating expenses 13,608
Income tax expense 1,092

Question

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

Sales revenue	106,057
Unearned revenue	1,275
Dividends	2,805
Cost of sales	37,054
Interest revenue	4,155
Operating expenses	13,608
Income tax expense	1,092

BlackTom AI · Accepted Answer

To determine net profit, we need to separate operating results from items that do not affect profit directly in the period.

Step 1: Start with sales revenue and subtract the cost of sales to get gross profit. 106,057 − 37,054 = 69,003.

Step 2: Subtract operating expenses from gross profit to obtain operating profit. 69,003 − 13,608 = 55,395.

Step 3: Add interest revenue, since interest earned increases net income. 55,395 + 4,155 = 59,550.

Step 4: Subtract income tax expense to arrive at net profit after tax. 59,550 − 1,092 = 58,458.

Notes on items not included in net profit:
- Unearned revenue is a liability representing cash received for goods/services not yet delivered; it does not reduce net profit in the period.
- Dividends are distributions of earnings to owners and are not an expense; they reduce retained earnings but do not affect net profit.

Therefore, following standard practice for calculating net profit from the provided figures, the computed amount reflects the period's profitability after considering operating results, other income, and tax.

BACC011 Week 2: Practice Quiz

Given this information, calculate the net profit for the business. Sales revenue 106,057 Unearned revenue 1,275 Dividends 2,805 Cost of sales 37,054 Interest revenue 4,155 Operating expenses 13,608 Income tax expense 1,092

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