Blake's Pet Care has provided a partial work sheet for the year ended December 31, 20--. In advance of preparing a balance sheet, first determine if Blake's Pet Care had net income or net loss for the year. Complete the balance sheet calculations. What is the total of the debit and credit columns on the balance sheet?

Blake's Pet Care Work Sheet For Year Ended December 31, 20-- Account Title Income Statement Balance Sheet Debit Credit Debit Credit 1 Cash 2,280 2 Supplies 230 3 Prepaid Insurance 485 4 Prepaid Rent 1,500 5 Building (Kennel) 40,600 6 Accounts Payable 620 7 Wages Payable 300 8 Blake Smith, Capital 10,000 9 Blake Smith, Drawing 1,775 10 Pet Service Revenues 72,100 11 Insurance Expense 800 12 Rent Expense 16,500 13 Supplies Expense 3,550 14 Telephone/Internet Expense 2,400 15 Utilities Expense 2,900 16 Wages Expense 10,000 17 ? ? ? ? 18 Net Income or (Loss) ? ? ? ? ? ? ? ?

a.$45,095 b.$46,870 c.$37,870 d.$46,510