The income statement of Ride-on Motors, an automotive manufacturer, for the year ended December 31, 20x1, reported revenues $7,400 million and cost of sales of $6,000 million. In addition, it reported other operating expenses of $900 million, a loss of $2 million on the sale of a business, and net financing income of $200 million. Tax expense for the year was $100 million. Compute the amount of

net income or loss that Ride-on Motors reported for 20x1.
a. net income of $198 million
b. net income of $698 million
c. net loss of $698 million
d. net income of $598 million
e. net loss of 598 million

D
($7,400 million - $6,000 million - $900 million - $2 million + $200 million.- $100 million) = net income of $598 million