On December 31, 2014, The Bates Company's revenues total $440,000 and expenses total $340,000 before...
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Accounting
On December 31, 2014, The Bates Company's revenues total $440,000 and expenses total $340,000 before consideration of the following: Accrued wages total $21,000; Accrued revenues total $56,000; Depreciation expense is $27,000; Rental revenue of $7,000 was earned; the rent from a tenant was initially recorded by Bates as unearned rent revenue; The income tax rate is 40% of income before income taxes. What is Bates' net income after consideration of the above information? $64,800. $69,000. $115,000. $100,000.
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