SOLUTION: The total receipts (gross income) of a coal mining company one year were $167,250,000. The expenses for the year were to the net income as 13 is to 2. What were the expenses for th
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Question 1109258: The total receipts (gross income) of a coal mining company one year were $167,250,000. The expenses for the year were to the net income as 13 is to 2. What were the expenses for that year? What were the net earnings?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
gross income-expenses=net income
net income is x
expenses would be (13/2)x or 6.5 x
167250000-6.5x=x
167250000=7.5x
x=$22,300,000 net income
expenses are 6.5 that or $144,950,000
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