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Use the following information in the Adjusted Trial Balance for LF Company for the year ended December 31, 20x1 to answer the below question. Dr
Use the following information in the Adjusted Trial Balance for LF Company for the year ended December 31, 20x1 to answer the below question. Dr Cr Cash Accounts Receivable $6,530 2,100 Prepaid Expenses 700 Equipment 14,700 Accumulated Depreciation $1,100 Accounts Payable 1,900 Notes Payable 4,300 Stockholder Capital 12,940 Dividends 790 Fees Earned 9,250 Wages Expense 2,500 Rent Expense 960 Utilities Expense 775 Depreciation Expense 250 Miscellaneous Expense 185 TOTALS $29,490 $29,490 Question: Determine the net profit (or loss) for the period. O Net Profit $9.250 ONet Loss $1.620 ONet Loss 2,680 Net Profit, $4,580
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