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Company's December 31, 2028 unadjusted trial balance reported the following accounts: |||Accounts Payable ............ $54,000||| |||Accounts Receivable ......... $47,000||| |||Advertising Expense ......... $21,000||| |||Cash ........................
Company's December 31, 2028 unadjusted trial balance reported the following accounts: |||Accounts Payable ............ $54,000||| |||Accounts Receivable ......... $47,000||| |||Advertising Expense ......... $21,000||| |||Cash ........................ $18,000||| |||Common Stock ................ $73,000||| |||Cost of Goods Sold .......... $41,000||| |||Dividends ................... $10,000||| |||Equipment ................... $68,000||| |||Income Tax Expense .......... $20,000||| |||Interest Revenue ............ $46,000||| |||Inventory ................... $55,000||| |||Mortgage Payable ............ $51,000||| |||Retained Earnings ........... $36,000 |||(at January 1, 2028) |||Sales Revenue ............... $93,000||| |||Supplies .................... $28,000||| |||Trademark ................... $49,000||| |||Unearned Revenue ............ $33,000||| |||Wage Expense ................ $29,000||| Company has not yet recorded an adjusting entry to record $9,000 of supplies that were used up during 2028. Calculate :net income that Company would report in its 2028 income statement after the appropriate adjusting entry is made to record the used up supplies.
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