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Use the adjusted trial balance for Stockton Company below to answer the question that follow. Stockton Company Adjusted Trial Balance December 31 Cash 6,530 Accounts

Use the adjusted trial balance for Stockton Company below to answer the question that follow.

Stockton Company
Adjusted Trial Balance
December 31
Cash 6,530
Accounts Receivable 2,100
Prepaid Expenses 700
Equipment 13,700
Accumulated Depreciation 1,100
Accounts Payable 1,900
Notes Payable 4,300
Bob Steely, Capital 12,940
Bob Steely, Withdrawals 790
Fees Earned 9,250
Wages Expense 2,500
Rent Expense 1,960
Utilities Expense 775
Depreciation Expense 250
Miscellaneous Expense 185
Totals 29,490 29,490

Determine the net income (loss) for the period.

a.net income $9,250

b.net loss $790

c.net loss $5,670

d.net income $3,580

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