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Waterway Company purchased a truck from Carla Vista Corp, by issuing a 6-month, 10% note payable for $99000 on November 1. On December 31, the accrued expense adjusting entry is 9900 Interest Expense Interest Payable 9900 1650 Interest Expense Interest Payable 1650 4950 No entry is required Interest Expense Interest Payable 4950 The income statement and balance sheet columns of Iron and Kingbird Company's worksheet reflect the following totals: Income Statement Dr. Cr. $65500 $47700 Balance Sheet Cr. $57900 $75700 Dr. Totals The net income (or loss) for the period is O $17800 income. O not determinable. O $17800 loss. $47700 income