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

Determine the net income (loss) for the period.

net income $4,930

net income $29,972

net loss $4,930

net loss $7,429

Adjusted Trial Balance December 31 Cash Accounts Receivable 6,448 2,503 Prepaid Expenses 724 15,681 Equipment Accumulated Depreciation 1,286 Accounts Payable 1,547 4,914 13,591 Notes Payable Bob Steely, Capital Bob Steely, withdrawals Fees Earned 912 8,634 Wages Expense 2,062 884 437 Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense 99 Totals 29,972 29,972