What is the formula for determining net income? Netincome=Income - Cost of goods sold times Expenses Net income=Incometimes Cost of goods sold times Expenses Net income=Income - Cost of goods sold - Expenses Net income=Income + Cost of goods sold + Expenses

The correct formula for determining net income is:<br /><br />Net income = Income - Cost of goods sold - Expenses<br /><br />Net income represents the profit or loss of a company after deducting all expenses, including the cost of goods sold (COGS) and other expenses. The formula takes into account the total income generated by the company and subtracts the cost of goods sold and expenses to calculate the net income.