1. The following is the adjusted trial balance for Stockton Company.

   Stockton Company Adjusted Trial Balance December 31
   Cash	6,715
   Accounts Receivable	2,080
   Prepaid Expenses	664
   Equipment	13,842
   Accumulated Depreciation		7,579
   Accounts Payable		1,537
   Notes Payable		4,881
   Common Stock		1,000
   Retained Earnings		5,412
   Dividends	985
   Fees Earned		8,087
   Wages Expense	2,728
   Rent Expense	790
   Utilities Expense	364
   Depreciation Expense	257
   Miscellaneous Expense	71
   Totals	28,496	28,496

   Determine the net income (loss) for the period.

   Net income $2,892

   Net loss $2,892

   Net loss $3,877

   Net income $3,877