Three Different Companies--A, B, and C--Have the Same Balance Sheet

question 83

Essay

Three different companies--A, B, and C--have the same balance sheet at the beginning and the end of a year. These are summarized below:
$\begin{array}{lll} \text {Total Libilities}&\text {Total Assets}\\\$ 250,000 & \$ 500,000 & \text { Begiming of the year } \\\$ 350,000 & \$ 1,200,000 & \text { End of the year }\end{array}$ Given the data above and the additional information for each company below, determine the net income (loss) for each company.

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Definitions:

Psychological Disorders

Mental disorders that significantly affect how a person feels, thinks, behaves, and interacts with others, often diagnosed according to standard criteria.

Dementia

A group of conditions characterized by impairment of at least two brain functions, such as memory loss and judgment.

Mental abilities

Cognitive skills and functions, such as memory, perception, problem-solving, and reasoning, possessed by an individual.

Heart disease

A broad term for any number of conditions affecting the heart's structure and function, including coronary artery disease, arrhythmias, and heart failure.