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Kenneth Clark and Donna Garcia are examining the following summary of cash flows for Pharoah...

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Accounting

Kenneth Clark and Donna Garcia are examining the following summary of cash flows for Pharoah Company for the year ended
January 31,2027.
Inflows
Kenneth claims that this statement shows that Pharoah had a superb first year, with cash increasing $39,580. Donna replies that it
was not a superb first year. Rather, she says, the year was an operating failure and that $39,580 is not the actual increase in cash. The
cash balance at the beginning of the year was $140,840.
(a)
Your answer is incorrect.
Using the data provided, determine the net income/(loss) for the year ended January 31,2027. Depreciation expense was
$55,480.(Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g.(45).)
Net income /(loss) $
eTextbook and Media
Attempts: unlimited
(b)
The parts of this question must be completed in order. This part will be available when you complete the part above.
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