Use the Information Given Below to Answer the Following Questions

question 26

Multiple Choice

Use the information given below to answer the following questions:
Retained profits of Livermore Pty Ltd at 1 July 2011 were $5500. The accounting records for year ended 30 June 2012 showed the following information:
$$\begin{array} { l r } &\$\\\text { Revenues earned } & 35500 \\\text { Cash collected from customers } & 5700 \\\text { Expenses incurred } & 32250 \\\text { Expenses paid in cash } & 29620 \\\text { Dividends declared and paid } & 1500\end{array}$$
-What was Livermore's net profit for the year ended 30 June 2012?

• A) $1750
• B) $2000
• C) $3250
• D) $7450.

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Definitions:

Reorganization

The process of changing the structure or arrangement of something, typically aiming for increased efficiency or to adapt to new conditions.

Attachment

In psychology, a deep and enduring emotional bond that connects one person to another across time and space.

Human Instincts

Innate, biologically determined behavior patterns common to all humans, influencing reactions and interactions with the environment.

Grief

A deep emotional response to loss, involving a range of feelings from sadness and anger to regret and relief.