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The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses 5,065 2,572
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash Accounts Receivable Prepaid Expenses 5,065 2,572 791 Equipment Accumulated Depreciation 14,084 4,638 Accounts Payable 1,621 Notes Payable 4,550 Common Stock 1,000 Retained Earnings 7,578 Dividends 674 Fees Earned 8,203 Wages Expense 2,977 Rent Expense 717 Utilities Expense 404 Depreciation Expense 205 Miscellaneous Expense 101 Totals 27,590 27,590 Determine the net income (loss) for the period. Oa. Net income $3,125 Ob. Net loss $3,125 Oc. Net loss $3,799 Od. Net income $3,799
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