Eli's Electronic Repair Shop started the year with total assets of $300000 and total liabilities of $200000. During the year the business recorded $400000 in electronic repair revenues $300000 in expenses and Eli withdrew $50000. The net income reported by Eli's Electronic Repair Shop for the year was

A) $100000.
B) $150000.
C) $250000.
D) $300000.

Net Income

The company's ultimate income after expenses and taxes have been taken away from total earnings.

Electronic Repair Revenues

Income generated from the business of fixing and restoring electronic devices and components to working condition.

Expenses

Expenses refer to the outflow of funds or the incurrence of a liability by a business as a result of its operations, such as costs for materials, labor, and overhead.