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COMPANY Z, MAY 2014 Accounts payable $ 3,000 Accounts receivable $ 5,000 Salary expense $ 7,000 Cash $30,000 Interest revenue $ 2,000 Inventory $12,000 Rent

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COMPANY Z, MAY 2014 Accounts payable $ 3,000 Accounts receivable $ 5,000 Salary expense $ 7,000 Cash $30,000 Interest revenue $ 2,000 Inventory $12,000 Rent expense $14,000 Insurance expense $ 5,000 Sales $43,000 Notes payable $20,000 Equipment $15,000 Based on the data above, which of the following is the amount of net income for Company Z? OA) $7,000 B) $19,000 OC) $24,000 OD) $45,000

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