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

Consider Adam's income statement. Which shows how to calculate Adam's net income?

A. [tex]$\$[/tex] 1,310 - \[tex]$ 3,100 = -\$[/tex] 1,790[tex]$

B. $[/tex]\[tex]$ 3,100 + \$[/tex] 1,310 = \[tex]$ 4,710$[/tex]

C. [tex]$\$[/tex] 3,100 - \[tex]$ 1,310 = \$[/tex] 1,790[tex]$

D. $[/tex]\[tex]$ 4,710 - \$[/tex] 3,100 = \[tex]$ 1,610$[/tex]



Answer :

GinnyAnswer
To determine Adam's net income, we need to follow these steps:

1. Calculate the Total Expenses:
- Food: [tex]$150 - Clothing: $[/tex]70
- Rent: [tex]$850 - Medical Insurance: $[/tex]90
- Transportation: [tex]$110 - Car Insurance: $[/tex]40

Add these expenses together:
[tex]\[ 150 + 70 + 850 + 90 + 110 + 40 = 1,310 \][/tex]

Therefore, the total expenses are [tex]$1,310. 2. Calculate the Net Income: - Start with the Total Income (Wages): $[/tex]3,100
- Subtract the Total Expenses from the Total Income:
[tex]\[ 3,100 - 1,310 = 1,790 \][/tex]

Therefore, Adam's net income is [tex]$1,790. Answer: \[ \$[/tex] 3,100 - \[tex]$ 1,310 = \$[/tex] 1,790
\]

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

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