(Solution) - In the Balance Sheet columns of the end of period spreadsheet work -(2025 Original AI-Free Solution)

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In the Balance Sheet columns of the end-of-period spreadsheet (work sheet) for Lancaster Consulting Co. for the current year, the Debit column total is $375,000 and the Credit column total is $505,200 before including the amount of net income or net loss. In preparing the income statement from the end-of-period spreadsheet (work sheet), what is the amount of net income or net loss?