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Smiles Entertainment had the following accounts and balances at December 31: Account Debit Credit Cash $ 10,400 Accounts Receivable 2,080 Prepaid Insurance 2,560 Supplies 1,080
Smiles Entertainment had the following accounts and balances at December 31:
Account | Debit | Credit | |||
Cash | $ | 10,400 | |||
Accounts Receivable | 2,080 | ||||
Prepaid Insurance | 2,560 | ||||
Supplies | 1,080 | ||||
Accounts Payable | $ | 5,200 | |||
Common Stock | 4,200 | ||||
Retained Earnings | 940 | ||||
Service Revenue | 7,400 | ||||
Salaries Expense | 540 | ||||
Utilities Expense | 1,080 | ||||
Totals | $ | 17,740 | $ | 17,740 | |
Using the information in the table, calculate the company's reported net income for the period.
Multiple Choice
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$1,180.
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$10,880.
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$5,780.
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$4,120.
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$4,660.
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