Consider Adam's income statement.
Adam Stewart
Monthly Income Statement
September 2013
Income (after taxes):
- Wages: [tex]$3,100
\ \textless \ strong\ \textgreater \ Total income:\ \textless \ /strong\ \textgreater \ $[/tex]3,100
Expenses:
- Food: [tex]$150
- Clothing: $[/tex]70
- Rent: [tex]$850
- Medical Insurance: $[/tex]90
- Transportation: [tex]$110
- Car Insurance: $[/tex]40
Total expenses: [tex]$1,310
\ \textless \ strong\ \textgreater \ Net income (income - expenses):\ \textless \ /strong\ \textgreater \ $[/tex]1,790
Which shows how to calculate Adam's net income?
A. [tex]$1,310 - $[/tex]3,100 = -[tex]$1,790
B. $[/tex]3,100 + [tex]$1,310 = $[/tex]4,710
C. [tex]$3,100 - $[/tex]1,310 = [tex]$1,790
D. $[/tex]4,710 - [tex]$3,100 = $[/tex]1,610