ABC Company has the following accounts and normal balances. Cash $4,000, Accounts Receivables $8,000, Allowance for Doubtful Accounts $500, Accounts Payable $2,500, Unearned Revenue $4,000, Revenue $9,000, Rent Expense $1,000, Wage Expense $4,000 and Capital of $1,000. Use this information to answer questions 1 4.

On January 1, 2011 we started a new business by investing cash of $10,000 and equipment of $9,000. During the year we withdraw $2,000. When we prepare of Statement of Owners Equity we note a final balance of $21,000. Based on this information, what was out net income or loss for the year? a. $4,000 net loss b. $2,000 net income c. $2,000 net loss d. $4,000 net income