Jerry's Butcher Shop, Inc If Jerry Made No Investments in the Business and Withdrew

question 148

Essay

Jerry's Butcher Shop, Inc. had the following assets and liabilities at the beginning and end of the current year:
$\begin{array}{llcc} & \text { Assets} &\text { Liabilities }\\ \text { Beginning of the year ............ } &\$114,000& \$68,000\\ \text { End of the year ......................} &135,000&73,000\\\end{array}$

If Jerry made no investments in the business and withdrew no assets during the year, what was the amount of net income earned by Jerry's Butcher Shop, Inc.?

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Definitions:

Grounding System

An electrical connection to the ground which is used to protect against electric shock and ensure operational safety.

High-Impedance Path

A circuit path that has a relatively high resistance to current flow, often affecting signal quality or energy transfer efficiency.

Bleeder Resistor

A bleeder resistor is a safety component used in electrical circuits to discharge residual power from capacitors to prevent electric shock or damage to other circuit components when power is turned off.

Module Leakage Current

The small electrical current that flows through a module or device when it is supposed to be off, typically due to imperfect insulation or circuit design.