Beginning Assets Were $700,000,Beginning Equity Was $225,000,Revenue for the Year

question 219

Multiple Choice

Beginning Assets were $700,000,Beginning Equity was $225,000,Revenue for the year was $523,000,Common Stock sold during the year totaled $320,000,Expenses for the year were $392,000,Ending Equity is $751,000,and Ending Assets are $963,000.
What is Net Income for the year?

• A)$475,000
• B)$998,000
• C)$131,000
• D)$203,000
• E)$308,000

---

Definitions:

Concomitant Diseases

Diseases or conditions that co-occur with a primary disease or condition, complicating the diagnosis, treatment, and prognosis.

Chronic Conditions

Long-term health conditions that require ongoing medical attention and can limit daily activities.

Quality of Life

A broad multidimensional concept that usually includes subjective evaluations of both positive and negative aspects of life.

Disease Trajectory

The course a disease takes from its onset, through its progression, and to its resolution.