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Shown below is a trial balance for Novelty Toys, Inc., on December 31,after adjusting entries: Novelty Toys, Inc. Trial Balance December 31 Cash $ 15,350
Shown below is a trial balance for Novelty Toys, Inc., on December 31,after adjusting entries: Novelty Toys, Inc. Trial Balance December 31 Cash $ 15,350 Accounts Receivable 12,675 Office Equipment 22,200 Accumulated Depreciation $ 5,850 Accounts Payable 7,675 Capital Stock 22,350 Retained Earnings -0- Dividends 7,350 Fees Earned 44,750 Salaries Expense 15,700 Advertising Expense 3,175 Depreciation Expense 4,175 $ 80,625 $ 80,625 rev: 04_26_2017_QC_CS-87364 Net income for the period equals:
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