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Smiles Entertainment had the following accounts and balances at December 31: Account DebitCredit Cash $10,000Accounts Receivable2,000Prepaid Insurance2,400Supplies1,000Accounts Payable$5,000Common Stock4,000Retained Earnings900Service Revenue7,000Salaries Expense500Utilities Expense1,000Totals$16,900$16,900. calculate the

Smiles Entertainment had the following accounts and balances at December 31:

Account DebitCredit Cash $10,000Accounts Receivable2,000Prepaid Insurance2,400Supplies1,000Accounts Payable$5,000Common Stock4,000Retained Earnings900Service Revenue7,000Salaries Expense500Utilities Expense1,000Totals$16,900$16,900. calculate the company's reported net income for the period.

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