Shown below is an adjusted trial balance for Cornell Products, Incorporated, on December 31:

Cornell Products, Incorporated

Adjusted Trial Balance

December 31, Year 1

Debit

Credit

Cash

$ 15,500

Accounts Receivable

12,750

Office Equipment

22,500

Accumulated Depreciation

$ 6,000

Accounts Payable

7,750

Capital Stock

22,500

Retained Earnings

-0-

Dividends

7,500

Service Fees Earned

45,500

Salaries Expense

16,000

Advertising Expense

3,250

Depreciation Expense

4,250

Totals

$ 81,750

$ 81,750

Net income for the period equals:

Group of answer choices

$22,000

$22,500.

$11,600

$36,750