Commercial Contractor Practice Exam 2025 - Free Contractor License Practice Questions and Study Guide Flash Cards

For 1 month, a company bills out $38,000 in completed work and receives $22,000 in payments plus $8,000 from the previous month's billings. They pay their total bill of $26,000 to supply houses for this month's purchases and another $5,000 for last month's purchases. What is the company's net income for the month using a cash accounting method?