Josephine's Bakery Had the Following Assets and Liabilities at the Beginning

question 119

Essay

Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
$\begin{array}{|l|r|r|}\hline & \text { Assets } & \text { Liabilities } \\\hline \text { Beginning of the year } & \$ 114,000 & \$ 68,000 \\\hline \text { End of the year } & 135,000 & 73,000 \\\hline\end{array}$ If the owners invested an additional $12,000 in the business and dividends of $5,000 were paid during the year, what was the amount of net income earned by Josephine's Bakery during the current year?

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Definitions:

Different Wages

The variation in pay for jobs due to factors like job function, experience, education, and location.

Americans Disabilities Act

A civil rights law, established in 1990, that prohibits discrimination against individuals with disabilities in all areas of public life.

Adverse Employment Actions

Decisions or actions taken by an employer that negatively affect an employee's employment status, such as demotion, termination, or failure to promote.

Associate

Typically refers to a person who is a junior member of a profession or organization, often in a legal or corporate environment.