Presented Below Are Selected Data from the Financial Statements of Harper

question 71

Essay

Presented below are selected data from the financial statements of Harper Company for 2014, 2013, and 2012.
$\begin{array}{lrrr}&2014&2013&2012\\\text { Total assets } & \$ 1,205,000 & \$ 952,000 & \$ 945,000 \\\text { Cost of goods sold } & 360,000 & 420,000 & 440,000 \\\text { Inventory } & 56,000 & 64,000 & 53,000 \\\text { Net income } & 65,000 & 25,000 & 16,000\end{array}$

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Definitions:

Government Intervention

Actions taken by a government to influence or directly participate in economic, social, or other sectors, with the aim of achieving specific outcomes or goals.

Economic System

An economic system is a structured and organized way a society decides to produce, distribute, and consume goods and services.

Paid Vacation Days

Refers to the number of days an employee is allowed to take off work with pay as part of their employment benefits.

Conglomerate

A large corporation that consists of diverse and often unrelated businesses.