Seidner company had the following account balances at the end of the first year of operations: revenues $ 102 comma 000 salaries expense $ 13 comma 000 dividends $ 9 comma 000 utilities expense $ 13 comma 000 advertising expense $ 8 comma 000 shortminusterm investments $20,000 cash $ 34 comma 000 land $50,000 common stock $50,000 what is the amount of net income or net loss for the year?

net income = $68000

Explanation:

given data

Revenues =  $102000

Salaries Expense = $13000

Dividends = $9000

Utilities Expense = $13000

Advertising Expense = $8000

Short minus term Investments = $20,000

Cash = $34 000

Land = $50,000

Common Stock = $50,000

to find out

amount of net income or net loss for the year

solution

we get here amount of net income that is express as

net income = revenue - salaries expense - utilities expenses - advertising expense    1

put here value we get

net income = $102000 - $13000  -$13000  - $8000

net income = $68000

c.

explanation:

regressive tax taxes the poor and less of the wealthy. this the rich get richer and the poor get more poor. this would create a large wealth gap.