Shown below is an adjusted trial balance for Novelty Toys, Incorporated, on December 31, Year 1: Novelty Toys, Incorporated Adjusted Trial Balance December 31, Year 1 Cash Accounts Receivable Office Equipment Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends Fees Earned Salaries Expense Advertising Expense Depreciation Expense Totals Net income for the period equals: Multiple Choice $47.250. $14,850. $24,550 $22.700 Debit Credit $ 15,850 12,925 23, 200 $ 6,350 7,925 22,850 -0- 7,850 47,250 16,700 3,425 4,425 $ 84,375 $ 84,375