The Accountant for Scott Industries Prepared the Following List of Account

question 82

Essay

The accountant for Scott Industries prepared the following list of account balances from the company's records for the year ended December 31. Use this information to answer the question that follows.
$\begin{array}{lrlr}\text { Fees earned } & \$ 165,000 & \text { Cash } & \$ 30,000 \\\text { Accounts receivable } & 16,000 & \text { Selling expenses } & 44,000 \\\text { Equipment } & 64,000 & \text { Common stock } & 47,000 \\\text { Accounts payable } & 12,000 & \text { Interest revenue } & 3,000 \\\text { Salaries \& wages expense } & 40,000 & \text { Income taxes expense } & 18,000 \\\text { Income taxes payable } & 5,000 & \text { Rent expense } & 20,000\end{array}$ ​
-Based on this information, is Scott Industries profitable? Explain your answer.

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Definitions:

Family Pattern

The recurrence of certain behaviors, roles, and interactions within a family across generations.

Anorexia Nervosa

An eating disorder characterized by an obsessive fear of gaining weight, leading to severe restriction of food intake and often starvation.

Food Deprivation

The condition of being without food for a prolonged period, which can lead to various physical and mental health issues.

Anorexia Nervosa

A psychological and potentially life-threatening eating disorder characterized by an extremely low body weight, distorted body image, and an obsessive fear of gaining weight.