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A company had the following trial balance on Dec 31, 2013 Trial Balance December 31, 2013 Debit Credit Cash $80,000 $120,000 Accounts Receivable Inventory $70,000 Prepaid Expenses $50,000 Equipment $100,000 Building $200,000 Land $150,000 $90.000 Accounts Payable Wages Payable Unearned Revenue $60,000 $75,000 Notes Payable Stock Retained Earnings $160,000 $110,000 $180,000 Sales $600.000 COGS $400,000 Retained Earnings $180,000 Sales $600,000 COGS $400,000 $30,000 Wages Expense Income Tax Expense Rent Expense $40,000 $10,000 Depreciation Expense $25,000 TOTALS $1,275,000 $1,275,000 What is the company's net income for 2013? Company's net income for 2013 C$45,000 $95,000 4 $120,000 $170,000