Writing the net income in an Income statement sheet for Compu-Paris Inc. for the year ended December 31, 2020, is as follows:
Compu-Paris Inc.
Income statement
For the year ended December 31, 2020
Revenue:
Fees earned $74,175
Commission earned 42,590
Total revenue $116,765
Expenses:
Car expenses $13,600
General expense 3,985
Postage expense 415
Rental expense 7,640
Wages expense 29,820
Total expenses $55,460
Net income $61,305
What is an income statement?
An income statement is a financial statement that summarizes an entity's revenue and expenses to determine the net income.
Also called an income summary, it determines the entity's financial performance for a financial period.
Thus, Compu-Paris Inc.'s income statement shows that it earned a net income of $61,305 for the year ended December 31, 2020.
Learn more about preparing income statements at brainly.com/question/24498019
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