Your Company sells exercise bikes for $675 each. The following cost formula relates to last year's operations: Y = $147,500 + $157X. Your Company sold 475 bikes last year, what was its net income last year? a) $93,370 b) $320,625 c) $74,575 d) $246,050 e) $98,550

Your Company sells exercise bikes for $675 each. The following cost formula relates to last year's operations: Y = $147,500 + $157X. Your Company sold 475 bikes last year, what was its net income last year? a) $93,370 b) $320,625 c) $74,575 d) $246,050 e) $98,550

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

a) $93,370

b) $320,625

c) $74,575

d) $246,050

e) $98,550

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