Instructions: Please prepare an Income Statement on your scratch paper based on the following Adjusted Trial Balance.

Question: Based on the Income Statement you prepared on your scratch paper, what is the Net Income on the Income Statement for the period ending 12/31/xx?

Adjusted Trial Balance
As of 12/31/20xx
Accounts	Debit	Credit
Cash	$5,400
Inventory	5,300
Supplies	4,900
Building	8,400
Accumulated Depreciation		$3,000
Accounts Payable		1,318
Deferred Revenue		1,900
Common Stock		2,100
Retained Earnings		12,600
Dividends	2,000
Revenue		12,400
Salaries Expense	3,000
Supplies Expense	1,000
Interest Expense	1,318
Depreciation Expense	2,000
Totals	$33,318	$33,318