During August, 2015, Baxter's Supply Store Generated Revenues of $60,000

Multiple Choice

During August, 2015, Baxter's Supply Store generated revenues of $60,000. The company's expenses were as follows: cost of goods sold of $36,000 and operating expenses of $4,000. The company also had rent revenue of $1,000 and a gain on the sale of a delivery truck of $2,000. Baxter's net income for August, 2015 is

A) $20,000.
B) $21,000.
C) $23,000.
D) $24,000.