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Use the adjusted trial balance for Stockton Company to answer the question that follows. Stockton Company Adjusted Trial Balance December 31 Line Item Description Amount
Use the adjusted trial balance for Stockton Company to answer the question that follows.
Line Item Description | Amount | Amount |
---|---|---|
Cash | 6,793 | |
Accounts Receivable | 2,578 | |
Prepaid Expenses | 662 | |
Equipment | 15,292 | |
Accumulated Depreciation | 4,434 | |
Accounts Payable | 1,665 | |
Notes Payable | 4,617 | |
Common Stock | 1,000 | |
Retained Earnings | 10,145 | |
Dividends | 981 | |
Fees Earned | 8,933 | |
Wages Expense | 3,019 | |
Rent Expense | 858 | |
Utilities Expense | 330 | |
Depreciation Expense | 195 | |
Miscellaneous Expense | 86 | |
Total | 30,794 | 30,794 |
Determine the net income (loss) for the period.
a.net income $3,464
b.net loss $3,464
c.net loss $4,445
d.net income $4,445
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