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Please compute NET INCOME The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Debit Credit 96,000 176,000 266,000 496,000 Account
Please compute NET INCOME
The December 31, 2021 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Debit Credit 96,000 176,000 266,000 496,000 Account Title Accounts payable Accounts receivable Accumulated depreciation-equipment Common stock Cash Cost of goods sold Depreciation expense Equipment Interest expense Inventory Note payable (dae in six months) Rent expense Retained earnings Salaries payable Sales revenge Salaries expense Totale 32,000 486,000 66,000 712,000 3,000 156,000 66,000 36,000 67.000 14,000 780,000 126,000 1,793,000 1,793,000 Required Assuming no income taxes, compute Kline's 2021 net income for loss): (Loss amount should be indicated with a minus sign.) Answer is complete but not entirely correct. Not income for loss) 5 662,000 Step by Step Solution
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