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The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash5,863Accounts Receivable2,339Prepaid Expenses659Equipment14,674Accumulated Depreciation6,605Accounts Payable1,443Notes Payable5,011Common Stock1,000Retained Earnings8,067Dividends882Fees

The following is the adjusted trial balance for Stockton Company.

Stockton Company

Adjusted Trial Balance

December 31Cash5,863Accounts Receivable2,339Prepaid Expenses659Equipment14,674Accumulated Depreciation6,605Accounts Payable1,443Notes Payable5,011Common Stock1,000Retained Earnings8,067Dividends882Fees Earned6,334Wages Expense2,671Rent Expense772Utilities Expense343Depreciation Expense196Miscellaneous Expense61Totals28,46028,460

Determine the net income (loss) for the period.

a.Net income $1,409

b.Net loss $1,409

c.Net loss $2,291

d.Net income $2,291

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