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.

---

Definitions:

Franz Boas

A foundational figure in anthropology known for his work on cultural relativism and for challenging scientific racism.

Racial Superiority

The belief that a particular race possesses qualities or abilities that make it superior to other races.

Blumenbach

Johann Friedrich Blumenbach was an 18th-century German physician, naturalist, physiologist, and anthropologist, noted for his influential work in the field of craniometry and racial classification theories.

Racial Identities

Social identities formed around the concept of race, often influencing an individual’s social experiences and how they are perceived by others.