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\begin{tabular}{|c|c|c|c|}
\hline \multicolumn{4}{|c|}{\begin{tabular}{l}
Adam Stewart \\
Monthly Income Statement \\
September 2013
\end{tabular}} \\
\hline \multicolumn{2}{|c|}{ Income (after taxes) } & \multicolumn{2}{|l|}{ Total income } \\
\hline Wages & [tex]$\$[/tex] 3,100[tex]$ & & $[/tex]\[tex]$ 3,100$[/tex] \\
\hline \multicolumn{4}{|l|}{ Expenses } \\
\hline \begin{tabular}{l}
Food \\
Rent \\
Transportation
\end{tabular} & \begin{tabular}{l}
\begin{tabular}{l}
[tex]$\$[/tex] 150[tex]$ \\
$[/tex]\[tex]$ 850$[/tex] \\
[tex]$\$[/tex] 110[tex]$
\end{tabular}
\end{tabular} & \begin{tabular}{l}
Clothing \\
Medical Insurance \\
Car Insurance
\end{tabular} & \begin{tabular}{l}
\begin{tabular}{l}
$[/tex]\[tex]$ 70$[/tex] \\
[tex]$\$[/tex] 90[tex]$ \\
$[/tex]\[tex]$ 40$[/tex]
\end{tabular}
\end{tabular} \\
\hline \multicolumn{3}{|l|}{ Total expenses: } & \[tex]$1,310 \\
\hline \multicolumn{3}{|c|}{ Net income (income - expenses): } & \$[/tex]1,790 \\
\hline
\end{tabular}

Consider Adam's income statement. 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



Answer :

GinnyAnswer
Let's break down the income and expenses to find Adam's net income step-by-step.

First, let’s list Adam's monthly income and expenses:

Income:
- Wages: \[tex]$3,100 Expenses: - Food: \$[/tex]150
- Rent: \[tex]$850 - Transportation: \$[/tex]110
- Clothing: \[tex]$70 - Medical Insurance: \$[/tex]90
- Car Insurance: \[tex]$40 Step 1: Calculate Total Expenses We need to sum up all the expenses: \[ \text{Total Expenses} = 150 + 850 + 110 + 70 + 90 + 40 \] The total expenses amount to \$[/tex]1,310.

Step 2: Calculate Net Income

Now, we subtract the total expenses from the income to find the net income:
[tex]\[ \text{Net Income} = \text{Income} - \text{Total Expenses} \][/tex]
Substituting the given values:
[tex]\[ \text{Net Income} = 3100 - 1310 = 1790 \][/tex]

Therefore, the correct manner to calculate Adam's net income is:
[tex]\[ \$ 3,100 - \$ 1,310 = \$ 1,790 \][/tex]

Thus, the correct option is:
[tex]\[ \$ 3,100 - \$ 1,310 = \$ 1,790 \][/tex]

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