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What is Meg net profit or loss this period

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Question - Meg's business had the following account balances at the end of the accounting period:

Wages Expense $175,000

Building $146,000

Interest Revenue $2,500

Long term Investment - bonds $250,000

Inventory $540,000

Wages Payable $38,000

Cash $4,500

Sales Revenue $1,278,000

Utility Expense $37,000

Dividends $15,000

Cost of Goods Sold $678,000

Accounts Payable $65,000

Required - What is Meg's net profit (or loss) this period?

Reference no: EM132616347

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