December 31 Cash 6,011 Accounts Receivable 2,155 Prepaid Expenses 724 Equipment 14,121 8,811 Accumulated Depreciation Accounts Payable 1,494 Notes Payable 5,039 Common Stock 1,000 Retained Earnings 4,943 Dividends 719 Fees Earned 6,459 2,582 763 Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 308 245 118 Totals 27,746 Determine the net income (loss) for the period. 27,746 a. Net income $1,724 b. Net loss 51,724 c.Net loss 52.443 d. Net Income $2,443