Compute the net income or net loss for the quarter ended on June 30, 2023, from the following data: Item Assets on April 1, 2023 Liabilities on April 1, 2023 Capital on June 30, 2023 Amount $75,000 $45,000 $42,000 Additional investments by the owner during $5,000 2023 Withdrawals during 2023 $8,000
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- General Accounting Question Solution PleasePlease Provide help with this Question provide 1 to 4 Required answerPowell Panther Corporatlon: Income Statements for Year Ending December 31 (millons of dollars) 2021 2020 Sales 2,185.0 S 1,900.0 Operating costs excluding depreciation and amortization 1,748.0 1,615.0 EBITDA 437.0 S 285.0 Depreciation and amortization 46.0 42.0 Earnings before interest and taxes (EBIT) 391.0 S 243.0 Interest 48.1 41.8 Earnings before taxes (EBT) 342.9 S 201.2 Taxes (25%) 137.2 80.5 Net income 205.7 S 120.7 Common dividends 185.1 S 96.6 Powell Panther Corporatlon: Balance Sheets as of December 31 (mllons of dollars) 2021 2020 Assets Cash and equivalents 34.0 $ 27.0 Accounts receivable 251.0 228.0 Inventories 502.0 456.0 Total current assets 787.0 $ 711.0 Net plant and equipment 460.0 418.0 Total assets 1,247.0 S 1,129.0 Liabilities and Equity Accounts payable 219.0 $ 190.0 Accruals 137.0 114.0 Notes payable 43.7 38.0 Total current liabilities 399.7 342.0 Long-term bonds 437.0 380.0 Total liabilities 836.7 $ 722.0 Common stock 353.5 370.8 Retained earnings 56.8 36.2…