1. The income statement and balance sheet columns of Reed Company's worksheet reflect the following totals:...

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1. The income statement and balance sheet columns of Reed Company's worksheet reflect the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000 The net income (or loss) for the period is: O $10,000 income O not determinable O $10,000 loss O $48,000 income 1. The income statement and balance sheet columns of Reed Company's worksheet reflect the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000 The net income (or loss) for the period is: O $10,000 income O not determinable O $10,000 loss O $48,000 income