Assume that Old Boardwalk reported the following summarized data at December 31, 2010. Accounts appear in no particular order; dollar amounts are in millions.
Other liabilities ..................... $ 5
Cash...................................... 6
Expenses ............................... 27
Stockholders equity.............. 3
Revenues ............................... $37
Other assets........................... 13
Accounts payable .................. 1
Prepare the trial balance of Old Boardwalk at December 31, 2010. List the accounts in their proper order. How much was Old Boardwalks net income or net loss?