Activity 3 Juan's Net Income At the end of the first monyh of operations for Juan's Service Company, the business had the following accounts: Cash, Php 19,000; Prepaid Rent, Php 500; Equipment, Php 5,000 and Accounts Payable Php 2,000. By the end of the month, Jackson's had earned Php 20,000 of Revenues, Php 1,000 of Utilities Expenses and Php 1, 500 of Salaries Expenses. Calculate the net income to be reported by the company for this first month.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.