Calculate the net income per books

 

Checking Account 50,000.00 Fixed Assets 200,000.00 Accumulated Depreciation 15,000.00 Inventory 50,000.00 Note Payable 20,000.00 Capital, Apel 85,000.00 Capital, Harts Sales Purchases 42,000.00 320,000.00 40,000.00 Purchases Returns & Allowances 2,000.00 Manufacturing salaries expense 35,000.00 Manufacturing insurance expense 2,000.00 Owner's salaries expense 45,000.00 Advertising expense 5,000.00 Rent expense 15,000.00 Store supplies expense 2,000.00 Employee benefits expense 5,000.00 Vehicle expense 5,000.00 Legal fees expense 5,000.00 Charitable Contributions 4,000.00 Depreciation expense 5,000.00 Gain on Sale of Equipment 3,000.00 Payroll taxes expense 9,000.00