Fisher enterprises assets increased from 7000 to 9000 and li

Fisher enterprises assets increased from $7,000 to $9,000, and liabilities decreased from $3,000 to $1,500. Assuming no additional owners equity transactions took place, if expenses totaled $3,000, what was Fisher\'s revenue for the year?

Solution

Calculate revenue :

Net income = Revenue-Expense

3500 = X-3000

Revenue = 6500

So Fisher\'s revenue for the year is $6500