The following accounts are taken from the December 31, 2015, financial statements of A to Z Advertising Company: The following activities occurred in 2016: 1. Billed customers for advertising services rendered, $55,000. 2. Received cash from customers in payment of their accounts, $10,400. 3. Incurred $45,000 of operating expenses of which $39,000 was paid in cash and $6,000 was on account and unpaid as of the end of the year. 4. Paid suppliers $5,000 on the accounts payable. 5. Received deposits from customers of $2,500 for advertising services to be performed in 2011.

What is the amount of Net Income for the year ended December 31, 2015?

What is the amount of Accounts Receivable at the end of 2016?

Advertising Revenue Cash Accounts receivable Interest expense Accounts payable Operating expenses Unearned revenue Equipment Income Tax Expense 46,482 1,516 7,296 2,299 5,000 37,460 1,178 18,048 2,326