For the month of June, a business earned $200 of revenue and incurred $120 of expenses after the parts of jobs falling outside June were excluded. What net income is reported for June?

1. Net income equals revenue earned less expenses incurred in the same window. 2. $200$ revenue $- 120$ expenses $= 80$. 3. Hence net income for June is $\$80$, so D is correct. 4. $\$120$ and $\$200$ are the components, and $\$320$ wrongly adds them instead of subtracting. _Source: Jonick, Principles of Financial Accounting (CC BY-SA 4.0), §2.2 "Matching Principle", p.54_