The Following Information Was Provided from the Records of Nimble

question 67

Multiple Choice

The following information was provided from the records of Nimble Limited, which began operations in the current year: $$\begin{array} { | l | r | } \text { Accrued expenses (payable) , end of year } & \$ 22,000 \\\hline \text { Sales revenue (cash and credit) } & 325,000 \\\hline \text { Prepaid expenses, end of year } & 5,000 \\\hline \text { Cash collected on customer accounts during the year } & 31,000 \\\hline \text { Cash paid for expenses (including prepaid expenses and cost of } & 187,000 \\ \text { goods sold) } & \\\hline\end{array}$$ What was the company's pre-tax income for the year?

• A)$116,000
• B)$121,000
• C)$138,000
• D)$169,000

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Definitions:

Agricultural Production

The process and methods used in the cultivation of plants and raising of animals for food, fiber, biofuel, medicinal plants, and other products used to sustain and enhance human life.

Labor Force

The total number of people employed and unemployed, seeking employment in an economy.

Marginal Cost

The additional expense incurred from creating one more unit of a product, highlighting how production costs change with output levels.

Culinary School

An educational institution that specializes in teaching cooking and food preparation skills.