Net income = $67,500

Journalize, post, and prepare an adjusted trial balance and financial statement.

statement. 1. Net sales, as presented, consist of sales $911,000, less freight-out on merchandise sold $33,000, and sales returns and allowances $28,000. 2. Other revenues, as presented, consist of sales discounts $18,000 and rent revenue $4,000. totaling $6,000 for the first quarter of 2026 . Instructions rate.) Net income $67,500