Shown below is an adjusted trial balance for Novelty Toys, Incorporated, on December 31, Year 1: Credit Novelty Toys, Incorporated Adjusted Trial Balance December 31, Year 1 Debit Cash $ 15,050 Accounts Receivable 12,525 Office Equipment 21,600 Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends 7,050 Fees Earned Salaries Expense 15,100 Advertising Expense 3,025 Depreciation Expense 4,025 Totals $ 78, 375 $ 5,550 7,525 22,050 -0- 43,250 $ 78,375 Net income for the period equals: Totals $ 78, 375 $ 78,375 Net income for the period equals: Multiple Choice $22,150 $43,250. O $21,100 O $14,050