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The December 31, 2024 (pre-closing) adjusted trial balance for Kline Enterprises was as follows: Account Title Debit Credit Accounts payable $ 98,000 Accounts receivable $

The December 31, 2024 (pre-closing) adjusted trial balance for Kline Enterprises was as follows:

Account Title

Debit

Credit

Accounts payable

$ 98,000

Accounts receivable

$ 178,000

Accumulated depreciation

268,000

Common stock

498,000

Cash

34,000

Cost of goods sold

488,000

Depreciation expense

68,000

Equipment

716,000

Interest expense

5,000

Inventory

158,000

Note payable (due in six months)

68,000

Rent expense

38,000

Retained earnings

71,000

Salaries payable

16,000

Sales revenue

794,000

Salaries expense

128,000

Totals

$ 1,813,000

$ 1,813,000

Required (4 points): Compute Kline's 2024 net income (or loss).

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