A summary of selected ledger accounts appear below for S. Ball for the current calendar year. 
Answer the following questions.
1. What was the total amount of withdrawals for the year?
2. What was the net income?
3. What was the total revenue?
4. What were the total expenses?
Definitions:
Payback Period
The length of time required to recover the cost of an investment, calculated by dividing the initial investment by annual cash inflow.
Initial Investment
The initial sum of money spent on starting a project, purchasing an asset, or establishing a business venture.
Annual Cash Inflow
Annual cash inflow is the total amount of money received by an individual or organization in one year from various sources, such as sales, investments, or financing activities.
Payback Method
A capital budgeting technique that calculates the time required for an investment to generate cash flows sufficient to recover its initial cost.
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