Use the adjusted trial balance for Stockton Company to answer the questions that follow.Stockton CompanyAdjusted Trial BalanceDecember $31$ Cash$7,530$ Accounts Receivable$2,100$ Prepaid Expenses $700$ Equipment$13,700$ Accumulated Depreciation $1,100$Accounts Payable $1,900$Notes Payable $4,300$Common Stock $1,000$Retained Earnings $12,940$Dividends$790$ Fees Earned $9,250$Wages Expense$2,500$ Rent Expense$1,960$ Utilities Expense$775$ Depreciation Expense$250$ Miscellaneous Expense $18530,49030,490$ Determine the net income $($loss$)$ for the period.Group of answer choicesnet income $$3,580$net loss $$790$net loss $$5,670$net income $$9,250$