1. The primary purpose of a trial balance is to prove the mathematical equality of the debits and credits after posting

A.True

B. False

2.

Use the following information to calculate for the year ended December 31, 2016

Supplies $ 3,000 Revenues $25,000

Operating expenses 11,000 Cash 15,000

Accounts payable 9,000 Drawings 1,000

Accounts receivable 3,000 Notes payable 2,000

Beginning Capital 5,000 Equipment 8,000

Net income? (___________)