The Income Statement of Peoples Motors Corporation, a U

question 76

Multiple Choice

The income statement of Peoples Motors Corporation, a U.S.automotive manufacturer, for the year ended December 31, 20x1, reported revenues of $207,000, cost of sales of $165,000, other operating expenses, including income taxes of $50,000, and net financing income, after taxes, of $6,000. Compute the amount of net income or loss that Peoples Motors reported for 20x1.

• A)net income of $0
• B)net income of $2,000
• C)net loss of $2,000
• D)net income of $8,000
• E)net loss of $8,000

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Definitions:

Chronic Effect

A long-term health consequence that arises after prolonged or repeated exposure to a hazardous substance or environmental condition.

Liver Damage

Liver damage refers to the impairment or deterioration of liver function, often resulting from factors like alcohol abuse, infection, or exposure to toxins.

Alcohol Abuse

The excessive and harmful consumption of alcohol, leading to physical and psychological damage.

Dose-Response Curves

Graphical representations showing the relationship between the dose of a substance and the extent of an organism's response.