Elanke, an owner of a restaurant, has the following financial information for the year ending December 31, 2016.Revenue earned$410,000Cash received from customers300,000Expenses incurred in the purchase of ingredients250,000Depreciation incurred during the year700Cash paid for miscellaneous expenses incurred in the year 2015120,000Based on the accrual basis of accounting, Elanke’s net income for the year is __________.$39,300$459,300$339,300$159,300 “Are you looking for this answer? We can Help click Order Now”
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