1.On March 31, 2020, TAYLOR and SWIFT contributed cash of 100,000 and 75,000, respectively. They agreed that profit will be distributed equally. During the year, the business had a net loss of 50,000. What is the share of Taylor and Swift, respectively in the net loss?

A. (25,000) and (25,000)

B. (18,750) and (18,750)

C. no share is to be given because it's a loss

D. (28,571) and (21,429)

2.The gross profit is 100,000; goods available for sale is 1,100,000; beginning inventory is 100,000; purchases is 1,000,000; and sales is 1,000,000. The ending inventory is?

A. zero

B. 100,000

C. 200,000

D. 300,000

3.Bruno Mars Enterprises provided the following totals and balances of financial statement elements on December 31, 2020.Owner's equity - 375,000; wages expense - 60,000; Service revenues - 150,000; prepaid rent expense - 33,000; utilities expense - 16,500; accrued expenses - 18,750; accrued interest income - 2,500; delivery expense - 10,600. How much is the net income for the year ended?

A. 62,900

B. 46,650

C. 29,900

D. 13,650