Hello,

I am doing the Chapter 5 Comprehensive Problem in Financial Accounting, 9th Edition by Weygandt. A photo of the full question is attached. Essentially I am given various account balances and various transactions and am meant to journalize and post the transactions and creat a trial balance, income statement, retained earnings statement, and balance sheet. I'm not new at this, but unfortunately I can't seem to get the net income. I know that it's $740 because the book does provide certain parts of the answer to keep the student on track. I have attached photos of my trial balance and my income statement. I know my trial balance totals are correct because the book provided that value as well. If someone could please please tell me what I did wrong to calculate $1200 too much for the net income, I would greatly appreciate it. I'm sure it's some stupidly obvious thing.

December 1, 2015, Prosen ng Company had the following account balances credit Debit Cash Accumulated Depreciation 7,200 Accounts Receivable 2,200 4,600 Equipment Inventory 4,500 12,000 Accounts Payable Supplies 1,000 Salaries and Wages Payable 1,200 Equipment 30,000 ,000 Common Stock 9,300 $47,000 Retained Earnings $47,000 During December, the company completed the following summary transactions. Dec. 6 Paid $1,600 for salaries and wages due employees, of which $600 is for December and $1,000 is for November salaries and wages payable 8 Received $1,900 cash from customers in payment of account (no discount allowed) 10 Sold merchandise for cash $6,300. The cost of the merchandise sold was $4,100. 13 Purchased merchandise on account from Maglio Co. $9,000, terms 2/10, n/30 15 Purchased supplies for cash $2,000 18 Sold merchandise on account $12,000, terms 3/10, n/30. The cost of the merchandise sold was $8,000. 20 Paid salaries and wages $1,800 23 Paid Maglio Co. in full, less discount. 27 ceived collections in full, less discounts, from customers billed on December 18 Adjustment data: 1. Accrued salaries and wages payable $800. 2. Depreciation $200 per month. 3. Supplies on hand $1,500. Instructions using a perpetual inventory system. trans- (a) Journalize the December transactions and post the December (b) Enter the December 1 balances in the ledger T-accounts Wages Expense actions. Use Cost of Goods Sold, Depreciation Expense, Salaries and Sales Revenue, Sales Discounts, and Supplies Expense (d) Totals $65,300 (c) Journalize and post adjusting entries. statement statement for December and a (e) Net income $740 (d) Prepare an adjusted balance. earnings (e) Prepare an income and a retained classified balance sheet December 31