Corporation began the year with cash of $ 152 comma 000 and land that cost $ 24 comma 800. during the year parker earned service revenue of $ 270 comma 000 and had the following expenses: salaries, $ 158 comma 000; rent, $ 89 comma 000; and utilities, $ 22 comma 000. at year-end parker's cash balance was down to $ 15 comma 000. how much net income (or net loss) did parker experience for the year?

A. economic resources to be used or turned into cash within one year. b. reports assets, liabilities, and stockholders' equity. c. decrease assets; increase liabilities and stockholders' equity. d. increase assets; decrease liabilities and stockholders' equity. e. an exchange or event that has a direct and measurable financial effect. f. accounts for a business separate from its owners. g. the principle that assets should be recorded at their original cost to the company. h. a standardized format used to accumulate data about each item reported on financial statements. i. the basic accounting equation. j. the two equalities in accounting that aid in providing accuracy. k. the account credited when money is borrowed from a bank using a promissory note. l. cumulative earnings of a company that have not yet been distributed to the owners. m. every transaction has at least two effects. n. amounts presently owed by the business. transaction, separate entity assumption, balance sheet, liabilities, assets, current assets, notes payable, duality of effects, retained earnings, debit.