Net Income Calculation
Company ABC generates $17,000 in total revenue from the sale of Product X. The company incurs expenses of $3,000 for raw materials, $500 for utilities, $2,000 for salaries and rent, and $1,500 for other operating costs. What is the company's net income or loss?
A
$12,500 net income
B
$10,000 net income
C
$16,500 net loss
D
$14,000 net income
E
$15,000 net loss
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