Elanke, an owner of a restaurant, has the following financial information for the year ending December 31, 2016.

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 2015120,000​​Based 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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