Using the Data Given Below,calculate the Income from Unknown Sources

question 5

Multiple Choice

Using the data given below,calculate the income from unknown sources for years 2 and 3 respectively.
Year 1
Year 2
Year 3
Total Assets
$252,000
$266,000
$309,000
Total Liabilities
244,000
134,000
64,000
Known Income
30,000
69,000
74,000
Total Living Expenses
17,500
10,800
8,800

• A)(i) -3,200; -26,200
• B)(i) 65,800; 47,800
• C)(i) 76,600; 56,600
• D)(i) 69,000; 74,000

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Definitions:

Maturity Stage

A phase in the product life cycle where growth in sales diminishes, and products may need marketing strategies to maintain market share.

Product Life Cycle

The stages a product goes through from its introduction into the market, through its growth and maturity, until its decline and eventual retirement.

Profitability

The ability of a business to earn a profit, measured by the extent to which revenues exceed costs and expenses.

Market Share

The percentage of an industry's sales that a particular company controls, indicating the company's size and competitiveness within the market.