Required: using data from the adjusted trial balance, answer the following questions regarding major totals that would be shown on the financial statements for October.

1. What is the amount of net income (or loss) that would be shown on the income statement for the month of October?

2. What is the amount of retained earnings as of October 31 on a statement of retained earnings for the month of October?

3. What are the amounts for total assets, total liabilities, & total stockholder equity on the balance sheet as of October 31? (note: assets=liabilities+stockholder equity).

Check figures:

Current assets=167,900; property, plant & equipment=49,600; total stockholders equity=128,000 ( common stock plus the amount of retained earnings from b above).

chegg.com + 6 Get Homework Help With Cheg... Get Homework Help With Cheg... October 1: Stockholders Invest... October 1: Stockholders Invest... fileaccess.missouriwestern.edu... how to screenshot on mac - Go... + = Chegg Study Textbook Solutions Expert Q&A Study Pack Practice NEW! D interest Payable DUU Unearned Revenue 8,000 Notes Payable 50,000 Common Stock 100,000 Dividends 5,000 Service Revenue 106,000 Salaries and Wages Expense 46,000 Rent Expense 9,000 Depreciation Expense 400 Supplies Expense 15,000 Insurance Expense 500 Bad Debt Expense 1,600 Interest Expense 500 Totals $ 297,500 $ 297,500 Comment > Up next for you in Accounting chegg.com + 6 Get Homework Help With Cheg... Get Homework Help With Cheg... October 1: Stockholders Invest... October 1: Stockholders Invest... fileaccess.missouriwestern.edu... how to screenshot on mac - Go... + = Chegg Study Textbook Solutions Expert Q&A Study Pack Practice NEW! D Pioneer Advertising Agency Inc. Adjusted Trial Balance October 31 Account Titles Debit Credit $ $ Cash 80,000 Accounts Receivable 74,000 Allowance for Doubtful Accounts 1,600 Advertising Supplies 10,000 Prepaid Insurance 5,500 Office Equipment 50,000 Accumulated Depreciation : Office Equipment 400 Accounts Payable 25,000 Salaries and Wages Payable 6,000 Interest Payable 500 Unearned Revenue 8,000 Notes Payable 50,000 Common Stock 100,000 Dividends 5,000 Service Revenue 106,000