Presented Below Are Selected Data from the Accounting Records for Year

question 133

Essay

Presented below are selected data from the accounting records for Year 1:
$$\begin{array} { l r } \text { Sales } & \$ 900,000 \\\text { Income tax expense } & 80,000 \\\text { Cost df sales } & 550,000 \\\text { Operating expenses } & 150,000 \\\text { Dividends } & 75,000\end{array}$$
A) Calculate the net income or loss for the year.
B) Did the company's flnancial position improve or deteriorate during the year? Explain.
C) Is the company profitable? Explain.

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Definitions:

Deserts

Arid regions with extremely low precipitation levels, supporting sparse vegetation and a varied range of adaptations among the living organisms.

Chemoautotrophic Bacteria

Bacteria that obtain their energy through the oxidation of inorganic molecules, rather than using sunlight for photosynthesis.

Trophic Level

Position of an organism in a food chain.