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Before making its year-end adjustments, the net income for Gannet Company was $80,000. Year-end adjusting entries are necessary for the following items: 1. Office supplies
Before making its year-end adjustments, the net income for Gannet Company was $80,000. Year-end adjusting entries are necessary for the following items: 1. Office supplies used up during the year totaled $2, 600. 2. Interest accrued to December 31 on note payable to the bank totaled $900. 3. Services performed for clients but not yet collected totaled $3, 200. Calculate Gannet Company's net income for the year after the necessary adjustments are made. Do not use decimals in your
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