Question: Answer me which one should I select; A,b, c, d Accounts Payable $7,567 Accounts Receivable 14,678 Accumulated Depreciation 3,000 Bank Loan, due June 1, 2020

Answer me which one should I select; A,b, c, d

Accounts Payable

$7,567

Accounts Receivable

14,678

Accumulated Depreciation

3,000

Bank Loan, due June 1, 2020

7,000

Cash

1,700

Depreciation Expense

1,100

Dividends Declared

500

Equipment

15,000

Income Tax Expense

2,900

Income Tax Payable

1,300

Prepaid Rent

6,000

Prepaid Insurance

2,400

Retained Earnings

2,900

Revenue

55,000

Common Stock

10,000

Telephone Expense

1,400

Utilities Expense

8,089

Wages Expense

33,000

What is 2019 net income?

a.

$2,900

b.

$8,511

c.

$8,400

d.

$8,011

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