2 differnt question:

1.The following amounts appeared in the accounting records of XYZ Inc. for the year:

Operating expenses $ 55000

Sales revenue 500000

Interest expense 45000

Accounts receivables 40000

Income tax expense 70000

Bank loan 120000

What was XYZ Inc.'s net income for the year?

2.

Hawkies Inc.'s fiscal year ends on May 31. On September 1, 2019 Hawkies Inc. paid $ 12000 for insurance from September 1, 2019 to August 31, 2020. On September 1, 2020 Hawkies Inc. paid $ 180000 for insurance from September 1, 2020 to August 31, 2021.

Calculate insurance expense for the year ended May 31, 2021. Round your answer to the nearest dollar.