Skolnick Co. was organized on April 1, 2014. The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.

(a) Determine the net income for the quarter April 1 to June 30.

(b) Determine the total assets and total liabilities at June 30, 2014, for Skolnick Co.

(c) Determine the amount that appears for Retained Earnings at June 30, 2014.

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Cash Accounts Receivable Prepaid Rent Supplies Equipment Dividends Salaries and Wages Expense Rent Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Total debits Debits $ 6,700 600 900 1,000 15,000 600 9,400 1,500 850 200 510 50 $37,310 Credits Accumulated Depreciation Equipment $ 850 5,000 1,510 400 50 500 Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Unearned Rent Revenue Common Stock Service Revenue Rent Revenue Total credits 14,000 14,200 800 $37,310