Don't use ai given answer accounting questions Annapolis Corporation's trial balance included debitsto expense accounts of $165,000, credits to revenueaccounts of $252,000, and debits to the Dividendsaccount of $50,000.Based on this information, what is the amount of thecompany's net income or loss?

Net income is the profit of a company after subtracting all expenses from its revenues during a…

Answered: Annapolis Corporation's trial balance…

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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The following data were taken from the records of Millet Corporation for the year ended December 31: Sales on account, P7,200,000; Accounts receivable written off as a result of permanentimpairment, P50,000; Notes receivable to settle accounts, P800,000; Purchases on account,P7,800,000; Payments to creditors, P6,400,000; Purchase discounts, P520,000; Sales returns,P30,000; Collections received to settle accounts, P4,900,000; Notes given to settle accounts, P500,000; Purchase returns, P140,000; Payments of notes, P200,000; Discounts taken bycustomers, P80,000; Collection on notes receivable, P360,000. What is the carrying value of the accounts receivable on December 31?
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Annapolis Corporation's trial balance included debits to expense accounts of $165,000, credits to revenue accounts of $252,000, and debits to the Dividends account of $50,000. Based on this information, what is the amount of the company's net income or loss?