Calculate the Net Income for Graff, Incorporated
Calculation of Net Income for Graff, Incorporated
Total Revenue: $36,040
Taxes: $4,320
Net Income: $36,040 - $4,320 = $31,720
Net income is an important financial metric that shows how profitable a company is after deducting all expenses, including taxes. In this case, Graff, Incorporated's net income is $31,720 after subtracting taxes from their total revenue.
It is crucial for businesses to calculate their net income accurately to understand their financial performance and make informed decisions for future growth and sustainability.
By knowing the net income, Graff, Incorporated can assess its profitability, plan for investments, manage expenses effectively, and determine the amount available for distribution to shareholders or reinvestment into the business.