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

question 139

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 net income for Atlantis Merchandising is:

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

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Definitions:

Antisocial Personality Disorder

A mental health disorder characterized by a long-term pattern of disregarding or violating the rights of others, often marked by deceitfulness and a lack of remorse.

Swindled

To be cheated or defrauded out of money or property usually through deceitful persuasion or manipulative tactics.

Emotional Detachment

A mental state where an individual is unable to connect or engage emotionally with others or their surroundings.

Dissociative Disorder

A psychological disorder characterized by experiencing a separation and discontinuity among thoughts, memories, environment, actions, and self-perception.