Table 5-5
the Following Items Were Taken from the December

question 156

Multiple Choice

Table 5-5
The following items were taken from the December 31, 2019, records of Speedy Boat Company, which uses a periodic inventory system: $$\begin{array} { | l | r | } \hline \text { Salary payable } & \$ 1,100 \\\hline \text { Sales revenue } & 480,000 \\\hline \text { Interest revenue } & 3,000 \\\hline \text { Freight in } & 20,000 \\\hline \text { Beginning inventory } & 35,000 \\\hline \text { Sales discounts } & 18,000 \\\hline \text { Purchases of inventory } & 240,000 \\\hline \text { Purchase retarns and allowances } & 35,000 \\\hline \text { Purchase discounts } & 10,000 \\\hline \text { Sales returns and allowances } & 35,000 \\\hline \text { Ending inventory } & 80,000 \\\hline \text { Operating expenses } & 85,000 \\\hline \text { Interest expense } & 7,000 \\\hline \text { Owner withdrawals } & 12,000 \\\hline\end{array}$$
-Refer to Table 5-5. The net income for Speedy Boat Company is:

• A)$156,000.
• B)$172,000.
• C)$168,000.
• D)$160,000.

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Definitions:

Low Self-Esteem

A condition or state where an individual holds a diminished or negative view of themselves, their abilities, or their value.

Persuadability

The susceptibility of an individual to change their attitudes, beliefs, or behaviors in response to persuasive communication or arguments.

Persuadable

Capable of being convinced to do or believe something through reasoning or argument.

Informational Variety

The range or diversity of information available or provided in a particular context.