Current Attempt in Progress

Anthony Walker and Michelle Hall are examining the following summary of cash flows for Sandhill Company for the year ended

January $31,2027.$

Inflows

Sales revenue

Capital stock sales

Sale of investment $($purchased below$)$

Proceeds from note $($to purchase truck below$)$

Interest received on investments

Total

Outflows

Purchase of fixtures and equipment

Cost of merchandise purchased for resale

Payment of operating expenses

Purchase of investment

Purchase of truck with note proceeds $($shown above$)$

Purchase of treasury stock

Payment of interest on note payable

Total

Net increase in cash

$$387,890$

$401,060$

$[80,160],[20,140],[5,957],[895,207]$

Anthony claims that this statement shows that Sandhill had a superb first year, with cash increasing $$43,126.$ Michelle replies that it

was not a superb first year. Rather, she says, the year was an operating failure and that $$43,126$ is not the actual increase in cash. The

cash balance at the beginning of the year was $$140,150.$

$($a$)$

Using the data provided, determine the net income$/($loss$)$ for the year ended January $31,2027.$ Depreciation expense was

$$55,390.($Enter negative amounts using either a negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$

Net income $/($loss$)$ $

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$($b$)$

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