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R2 -Uz Company's December 31, 2026 unadjusted trial balance reported the following accounts: Accounts Payable ............ $37 ,000 Accounts Receivable ......... $61 ,000 Accumulated Depreciation
R2-Uz Company's December 31, 2026 unadjusted trial balance reported the following accounts: Accounts Payable ............ $37,000 Accounts Receivable ......... $61,000 Accumulated Depreciation .... $33,000 Cash ........................ $20,000 Common Stock ................ $45,000 Cost of Goods Sold .......... $47,000 Depreciation Expense ........ $16,000 Equipment ................... $71,000 Income Tax Expense .......... $12,000 Inventory ................... $70,000 Investment Revenue .......... $65,000 Mortgage Payable ............ $40,000 Retained Earnings ........... $42,000 (at January 1, 2026) Sales Revenue ............... $95,000 Supplies .................... $26,000 Trademark ................... $22,000 Unearned Revenue ............ $19,000 Wage Expense ................ $31,000 R2-Uz Company has not yet recorded an adjusting entry to record $7,000 of supplies that were used up during 2026. Calculate the amount of net income that R2-Uz Company would report in its 2026 income statement after the appropriate adjusting entry is made to record the used up supplies
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