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

question 162

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 made no investments in the business and no dividends 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:

Cytotoxic T Cells

A type of white blood cell that kills cancer cells, cells that are infected with viruses, or cells that are damaged in other ways.

T Lymphocyte

A type of white blood cell that plays a central role in the immune response by attacking foreign invaders and cancer cells.

Memory T Cells

A type of T cell that remains in the body after an initial infection and helps to quickly respond to the same antigen upon re-exposure.

Antigenic Determinant

Specific part of an antigen that stimulates an immune system response by binding to receptors on the surface of lymphocytes; also called epitope.