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Jt7-K1 Company's December 31, 2029 unadjusted trial balance reported the following accounts: Copyright ................... $36,200 Notes payable ............... $79,300 Interest revenue ............ $29,800 Depreciation expense
Jt7-K1 Company's December 31, 2029 unadjusted trial balance reported the following accounts: Copyright ................... $36,200 Notes payable ............... $79,300 Interest revenue ............ $29,800 Depreciation expense ........ $11,900 Supplies .................... $31,900 Cash ........................ ? Unearned revenue ............ $19,800 Accounts receivable ......... $57,900 Salaries expense ............ $21,200 Equipment ................... $81,600 Inventory ................... $63,600 Cost of goods sold .......... $44,400 Retained earnings ........... $88,100 (at January 1, 2029) Income tax expense .......... $14,400 Accumulated depreciation .... $22,400 Common Stock ................ ? Land ........................ $51,600 Accounts payable ............ $36,500 Sales revenue ............... $96,100 Jt7-K1 Company has not yet recorded the following adjusting entries: 1) $8,900 of supplies were used up 2) A $7,800 utility bill for December has been received but not yet paid as of December 31 Calculate the amount of net income that Jt7-K1 Company would would report in its 2029 income statement after the necessary adjusting entries have been recorded.
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