Question

Business Consulting company Income Statement For the Year Ended December 31, 2017 Revenue: Consulting revenue earned...

Business Consulting company
Income Statement
For the Year Ended December 31, 2017
Revenue:
Consulting revenue earned $98,000
Expenses:
Cost of goods sold $46,500
Rent expense $3,700
Salary expense (by production) $5,500
Equipment expense $2,000
Utilities (by production) $4,600
Income before income tax _________
Income Tax expense 17,400
Net Income _________


Check the Income statement of the consulting company and calculate the following:

Net Income:

Gross Profit (Revenue-Cost of good sold):

Please split the expenses (list the items and then calculate the total) into fixed costs and variable costs:

Fixed costs:

Variable costs:

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