Table 5-4
the Following Data Is for the Atlantis Merchandising

question 73

Multiple Choice

Table 5-4
The following data is for the Atlantis Merchandising, which uses a periodic inventory system: $$\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 600,000 \\\hline \text { Interest revenue } & 12,000 \\\hline \text { Freight in } & 42,000 \\\hline \text { Beginning inventory } & 77,000 \\\hline \text { Purchase discounts } & 19,000 \\\hline \text { Sales reburns and allowances } & 33,000 \\\hline \text { Operating expenses } & 77,000 \\\hline \text { Interest expense } & 9,000 \\\hline \text { Ending inventory } & 81,000 \\\hline \text { Purchases } & 415,000 \\\hline \text { Sales discounts } & 35,000 \\\hline \text { Omar Atlantis, Withdrawals } & 71,000 \\\hline \text { Purchase returns and allowances } & 39,000 \\\hline\end{array}$$
-Refer to Table 5-4. The operating income for Atlantis Merchandising is:

• A)$(11,000).
• B)$63,000.
• C)$51,000.
• D)$60,000.

Recognize the role of monopolies, particularly regulated monopolies, and barriers to entry in the economy.

Understand how economic policies like price controls can impact supply and demand, and potentially lead to shortages.

Grasp the relationship between demand, supply, and employment.

Recognize the role of factors of production in determining supply of goods and services.

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Definitions:

American Meal

A traditional eating pattern in the United States that often includes a protein source, vegetables, and a starch.

National Identity

A sense of belonging and identity tied to a nation or country, encompassing shared culture, traditions, language, and history.

Autonomy Morals

Principles that emphasize the importance of self-governance and making ethical decisions based on one's own values.

Divinity Morals

Moral principles or values that are believed to be derived from or dictated by a divine power or religious beliefs.