The Total Assets and the Total Liabilities of Samantha Financial

question 89

Multiple Choice

The total assets and the total liabilities of Samantha Financial Services are shown below.There were no capital contributions and withdrawals during the year.
$$\begin{array} { | l | l | r | } \hline & \text { Assets } & \text { Liabilities } \\\hline \text { Beginning of year } & \$ 405,000 & \$ 275,000 \\\hline \text { End of year } & 445,000 & 305,000 \\\hline\end{array}$$
What was the amount of profit for the year?

• A) $30,000
• B) $70,000
• C) $40,000
• D) $10,000

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Definitions:

Enteric Nervous System

A subdivision of the peripheral nervous system that directly controls the gastrointestinal system.

Gut

The gastrointestinal tract that digests food, absorbs nutrients, and expels waste.

Ventral

Pertaining to the front or anterior part of the body in vertebrates or the lower side in humans.

Medial

Situated in or pertaining to the middle; often used to describe the location of structures within the body or brain relative to the midline.