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The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,807 2,535 Accounts Receivable 701 15,643 Prepaid
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 5,807 2,535 Accounts Receivable 701 15,643 Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable 4,228 Notes Payable 1,609 5,409 1,000 8,488 Common Stock 777 8,895 2,697 Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 716 394 261 98 Totals 29,629 29,629 Determine the net income (loss) for the period. a. Net income $3,952 b. Net loss $3,952 c. Net loss $4,729
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