The assets and liabilities of a company on December 31, 2016, its revenues and expenses for the year ended on that date, and additional, follow: (Click the icon to view the account totals.) #1: Was the result of operations during the year a net income or a net loss? What was the amount? Data Table Result of operations: of $ #2: Was there an overall net increase or net decrease in retained earnings during the year? By how much? Retained earnings Toys Equipment $ 110,000 Land S 20,000 Interest expense 10,400 Note payable 99,900 Interest payable 2,500 Property tax expense ... 7,500 Accounts payable 23,000 Rent expense 40,400 Salary expense 108,500 Accounts receivable 85,100 Building 407,000 Service revenue 456,600 Cash 46,000 Supplies 6,300 Common stock 12,300 Utilities expense 8,100 Beginning retained earnings was $364,000, and dividends totaled $109,000 for the year. Print Done