Revenue on account amounted to $6,000. Cash collections of accounts receivable amounted to $3,800. Expenses for the period were $3,100. The company paid dividends of $950. Net income for the period was:

a) $1,950.

b) $700.

c) $2,900.

d) $2,850.

Net revenue= $2,900

Explanation:

Net income is defined as the net profit that a business realises during its business activities. It is revenue earned less expenses.

Revenue is the total income gained from business activities, for example returns from sales.

Expenses are the costs incurred while business is involved in activities geared at making profit. For example cost incurred for transportation of goods, cost of labour, manitainance cost, and so on.

Calculation involves adding up all revenue outflows and deducting cost incurred by the business.

Net revenue= Revenue+ Expenses

Net revenue= 6,000- 3,100

Net revenue= $2,900

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