Answered

IDNLearn.com is your go-to resource for finding precise and accurate answers. Get the information you need from our community of experts who provide accurate and thorough answers to all your questions.

\begin{tabular}{|l|l|ll|}
\hline \multicolumn{4}{|c|}{\begin{tabular}{c}
Adam Stewart \\
Monthly Income Statement \\
September 2013
\end{tabular}} \\
\hline Income (after taxes) & Total income \\
\hline Wages & [tex]$\$[/tex] 3,100[tex]$ & & $[/tex]\[tex]$ 3,100$[/tex] \\
\hline Expenses & & \\
\hline Food & [tex]$\$[/tex] 150[tex]$ & Clothing & $[/tex]\[tex]$ 70$[/tex] \\
Rent & [tex]$\$[/tex] 850[tex]$ & Medical Insurance & $[/tex]\[tex]$ 90$[/tex] \\
Transportation & [tex]$\$[/tex] 110[tex]$ & Car Insurance & $[/tex]\[tex]$ 40$[/tex] \\
\hline Total expenses: & & [tex]$\$[/tex] 1,310[tex]$ \\
\hline Net income (income - expenses): & $[/tex]\[tex]$ 1,790$[/tex] \\
\hline
\end{tabular}

Consider Adam's income statement. Which shows how to calculate Adam's net income?

A. [tex]$\$[/tex] 1,310 - \[tex]$ 3,100 = -\$[/tex] 1,790[tex]$

B. $[/tex]\[tex]$ 3,100 + \$[/tex] 1,310 = \[tex]$ 4,710$[/tex]

C. [tex]$\$[/tex] 3,100 - \[tex]$ 1,310 = \$[/tex] 1,790[tex]$

D. $[/tex]\[tex]$ 4,710 - \$[/tex] 3,100 = \[tex]$ 1,610$[/tex]

Sagot :

GinnyAnsweridn
To determine Adam's net income, we need to follow these steps:

1. Calculate the Total Expenses:
- Food: [tex]$150 - Clothing: $[/tex]70
- Rent: [tex]$850 - Medical Insurance: $[/tex]90
- Transportation: [tex]$110 - Car Insurance: $[/tex]40

Add these expenses together:
[tex]\[ 150 + 70 + 850 + 90 + 110 + 40 = 1,310 \][/tex]

Therefore, the total expenses are [tex]$1,310. 2. Calculate the Net Income: - Start with the Total Income (Wages): $[/tex]3,100
- Subtract the Total Expenses from the Total Income:
[tex]\[ 3,100 - 1,310 = 1,790 \][/tex]

Therefore, Adam's net income is [tex]$1,790. Answer: \[ \$[/tex] 3,100 - \[tex]$ 1,310 = \$[/tex] 1,790
\]

Hence, the correct option is:
[tex]\[ \$ 3,100 - \$ 1,310 = \$ 1,790 \][/tex]
Thank you for joining our conversation. Don't hesitate to return anytime to find answers to your questions. Let's continue sharing knowledge and experiences! Discover insightful answers at IDNLearn.com. We appreciate your visit and look forward to assisting you again.