Computer Maintenance and Repair Shop had the following revenue and
Computer Maintenance and Repair Shop had the following revenue and expenses during the month ended July 31. Did the firm earn a net income or incur a net loss for the period? What was the amount?
Fees for computer repairs ......... $44,600
Advertising expense ........... 6,300
Salaries expense .............. 19,100
Telephone expense ............. 1,150
Fees for printer repairs .......... 6,550
Utilities expense ............. 1,600

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