Use the adjusted trial balance for Stockton Company below to answer the question that follow.

Determine the net income (loss) for the period.

a. Net income $9,250

b. Net loss $790

c. Net loss $5,670

d. Net income $3,580

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Stockton Company December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Adjusted Trial Balance 6,530 2,100 700 13,700 790 2,500 1,960 775 250 185 29,490 1,100 1,900 4,300 12,940 9,250 29,490 Stockton Company December 31 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Bob Steely, Capital Bob Steely. Withdrawals Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals Adjusted Trial Balance 6,530 2,100 700 13,700 790 2,500 1,960 775 250 185 29,490 1,100 1,900 4,300 12,940 9,250 29,490

Answer rating: 100% (QA)

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