Subjects finance

Income Calculation E8Eeed

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1. **State the problem:** Anna earns 550 per day and worked 22 days this month. We need to find her gross income and then compute her net income after deductions for SSS, PhilHealth, PAG-IBIG, and tax. 2. **Calculate gross income:** Gross income is the total earnings before deductions. The formula is: $$\text{Gross Income} = \text{Daily Wage} \times \text{Number of Days Worked}$$ Substitute the values: $$\text{Gross Income} = 550 \times 22$$ 3. **Calculate gross income value:** $$550 \times 22 = 12100$$ So, Anna's gross income is 12100. 4. **Calculate net income:** Net income is gross income minus total deductions. The formula is: $$\text{Net Income} = \text{Gross Income} - \text{Total Deductions}$$ 5. **Using a spreadsheet:** - Enter daily wage in cell A1: 550 - Enter days worked in cell A2: 22 - Calculate gross income in cell A3: =A1*A2 - Enter deductions for SSS, PhilHealth, PAG-IBIG, and tax in cells A4 to A7 - Calculate total deductions in cell A8: =SUM(A4:A7) - Calculate net income in cell A9: =A3 - A8 6. **Explanation:** This method allows you to easily change any value and see the updated net income immediately. **Final answers:** - Gross Income = 12100 - Net Income = Gross Income minus total deductions (depends on deduction values)