Net income is equal to the total revenue from selling an item minus the cost of producing the item. determine the net income if the revenue from a business is $400,000 and the cost is $156,800. use i=r-c i = net income, r = revenue, c = cost a. $243,000 is the net income b. $556,800 is the net income c. $243,200 is the net income d. $556,000 is the net income