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0 Question 27 8 pts 27. Shown below in alphabetical order are the accounts for Teddy's Transport, Inc. at the end of the company's fiscal
0 Question 27 8 pts 27. Shown below in alphabetical order are the accounts for Teddy's Transport, Inc. at the end of the company's fiscal year, December 31, 2021. The amounts are rounded to the nearest $1,000. Account Balance Account Accounts payable $12 Income taxes payable Accounts receivable Accumulated depreciation Airplanes Buildings and equipment 45 45 20 20 Insurance and interest expense Maintenance and fuel expense 167 Note payable (due in 5 years) 88 88 Passenger and freight service revenue Advertising and supplies expense 53 Prepaid insurance Cash 32 Retained earnings, 1/1/21 Balance $14 55 15 125 43 43 390 4 22 27 Common stock 125 Salary expense 14 71 Depreciation expense 11 Salaries payable 8 Dividends 5 Supplies 18 Income tax expense 25 25 Unearned revenue 20 20 Calculate Net Income for the year ending 12/31/21. (Be sure to show the numbers you used for your calculations. Answers without calculations will earn zero points. You do not need to type out the account names.)
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