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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
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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
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