TB MC Qu. 03-270 A company's December...

A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period?

	Unadjusted Trial Balance				Adjustments
	Debit		Credit		Debit		Credit
Cash	1,975
Accounts receivable	1,000				875
Prepaid insurance	1,600						650
Supplies	330						115
Equipment	8,320
Accumulated depreciationequipment			720				190
Accounts payable			1,140
Retained earnings			9,110
Dividends	1,050
Fees earned			7,250				875
Rent expense	1,300
Salaries expense	2,300
Utilities expense	345
Insurance expense					650
Supplies expense					115
Depreciation expenseequipment					190
Totals	18,220		18,220		1,830		1,830

Multiple Choice

• $3,305.

• $4,180.

• $2,350.

• $2,540.

• $3,225.