Use This Information to Answer the Following Question

question 69

Multiple Choice

Use this information to answer the following question. In addition, beginning merchandise inventory was $22,000 and ending merchandise inventory was $14,000.
Net income for the period was

• A) $173,000.
• B) $93,000.
• C) $63,000.
• D) $203,000.

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Definitions:

Thank You

A polite expression used to acknowledge a kindness or service.

Denying Credit

Refusing to acknowledge someone's contribution or effort.

Cash Purchases

Transactions where goods or services are bought and paid for with physical currency at the point of sale, as opposed to using credit.

Poor Credit Rating

A low assessment of an individual's or entity's creditworthiness, indicating a high risk to lenders or creditors.