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What the net profit or loss on income statement should be

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Ted told Ian that it was necessary to include all relevant information on an income statement and showed Ian the following data:

Owner investment: $8,000

Revenue: $15,000

Equity: $21,000

Expenses: $3,000

Problem 1: Based on this data, the net profit or loss on the income statement should be:

a.) Net Loss of $5,000
b.) Net Loss of $33,000
c.) Net Profit of $12,000
d.) Net Profit of $44,000

Reference no: EM132782669

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