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Calculate the net income and total assets

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Reference no: EM132637718

Question - Use the following information for the year ended December 31, 2022.

Supplies $1,300

Service revenue $18,000

Operating expenses 9,600

Cash 15,500

Accounts payable 11,700

Dividends 5,700

Accounts receivable 3,600

Notes payable 1,500

Common stock 11,000

Equipment 11,200

Retained earnings (beginning) 4,700

Required - Calculate the following:

1. Net income / (net loss)

2. Ending retained earnings

3. Total assets

Reference no: EM132637718

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