QUESTION 18 (12 pts, 6 each) The following is the adjusted trial balance for ABC Inc.. Debit Credit $34,000 28,000 7,500 3,000 48,000 150,000 Accounts Cash Accounts Receivable Prepaid Insurance Office Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries Payable Unearned Revenue $15,500 71,000 7,000 23,000 4,000 29,000 Mortgage Payable Common Stock 100,000 10,000 Retained Earnings 11,500 Dividends 22,000 Service Revenue 280,000 Salaries Expense 62,000 QUESTION 18 (12 pts, 6 each) The following is the adjusted trial balance for ABC Inc.. Accounts Debit Credit Cash $34,000 Accounts Receivable 28,000 7,500 3,000 48,000 150,000 $15,500 Prepaid Insurance Office Supplies Land Building Accumulated Depreciation-Building Equipment Accumulated Depreciation--Equipment Accounts Payable Salaries Payable Unearned Revenue Mortgage Payable 71,000 7,000 23,000 4,000 29,000 100,000 Common Stock 10,000 Retained Earnings 11,500 Dividends 22,000 Service Revenue Salaries Expense 280,000 62,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. 71,000 7,000 Equipment Accumulated Depreciation--Equipment Accounts Payable Salaries Payable Unearned Revenue 23,000 4,000 29,000 100,000 Mortgage Payable Common Stock 10,000 11,500 Retained Earnings Dividends 22,000 Service Revenue 280,000 62,000 5,900 Salaries Expense Depreciation Expense-Building and Equipment Supplies Expense Insurance Expense Utilities Expense 14,000 14,600 20,000 Total $480,000 $480,000 a. What is the Net Income? b. After the closing entries are posted, what is the balance in Retained Earnings? Arial 3 (12pt) T Click Save and Submit to save and submit. Click Save All Answers to save all answers