Question 5 (1 point)

Blanton is preparing their multi-step income statement and have downloaded their income statement accounts. Two accounts were downloaded incorrectly and do not belong on the income statement (HINT: you have to identify the wrong accounts). These two replace the wrong accounts shown above:

Selling Expenses 3,000

Sales Revenue 585,000

What is Blanton Co's net income (or net loss) for the period?

Enter your response as a whole number, no commas and no dollar sign. For a net loss, enter as a negative number.

Accounts Payable Cost of Goods Sold Gain on Sale of Equipment General and Admin Expense Loss from Discontinued Ope Salaries Payable Tax Expense $45,000 230,000 15,000 160,000 10,500 20,000 60,000