Following Are the Summaries of Balance Sheet of LCF Company

question 15

Multiple Choice

Following are the summaries of balance sheet of LCF Company: $$\begin{array} { l c c } & \text { Total Assets } & \text { Total Liabilities } \\\text { Beginning of the year } & \$ 250,000 & \$ 180,000 \\\text { End of the year } & \$ 500,000 & \$ 370,000\end{array}$$ Determine the net income (or loss) for the year, assuming $80,000 of common stock was issued and no dividends were paid during the year?

• A) $140,000
• B) ($20,000)
• C) $160,000
• D) ($60,000)

---

Definitions:

Emotional Appeal

A persuasive technique used in advertising and marketing to create an emotional response in the audience, aiming to influence their purchasing decisions.

Utilitarian Needs

The practical or functional aspects that consumers consider when purchasing a product, focusing on the utility and efficiency it provides.

Emotional Appeal

A marketing or communication strategy designed to elicit an emotional response from the target audience to encourage engagement or action.

Automobile Manufacturers

Companies engaged in the design, development, manufacturing, marketing, and selling of motor vehicles.