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	$ 15,650
Accounts Receivable	12,825
Office Equipment	22,800
Accumulated Depreciation		$ 6,150
Accounts Payable		7,825
Capital Stock		22,650
Retained Earnings		-0-
Dividends	7,650
Service Fees Earned		46,250
Salaries Expense	16,300
Advertising Expense	3,325
Depreciation Expense	4,325
Totals	$ 82,875	$ 82,875

Net income for the period equals:

Multiple Choice

• $46,250.

• $22,300.

• $14,650.

• $23,950.