For the Year ended December 31, 2016 Cash $6,030 Accounts Receivable 2,100 Prepaid Expenses 700 Equipment 13,700 Accumulated Depreciation $1,100 Accounts Payable 1,900 Notes Payable 4,200 Capital Stock 12,940 Dividends 790 Fees Earned 8,750 Wages Expense 2,500 Rent Expense 1,960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 85 Totals $28,890 $28.890 Determine the net income (loss) for the period. a. Net Loss $5,570 b. Net Income $3,180 c. Net Loss $790 d. Net Income $2,390 ANSWER: the net income (loss) for the period :Net income =3,180 12. At the end of 2016, the unadjusted accounting records for Coney Corporation contain the following selected accounts and balances. Interest Revenue $3,600 Wage and Salary Expense $15,600 Insurance Expense 6,500 Interest Expense 2,400 Depreciation Expense 12,000 Advertising Fees Earned 54,300 Utilities Expense 12,400 Income Tax Expense 5,800 Accounts Receivable 12,300 Dividends 3,000 A) Coney has not paid its employees for the final 3 days in 2016. The amount owed is $700. How much wage and salary expense should Bacon report for its year ending December 31, 2016? B) What adjustments would you expect Coney to make at year end that would result in additional revenue as a result of the accounts listed