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Determine how much is the net income for the year ended

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Problem 1: Bruno Mars Enterprises provided the following totals and balances of financial statement elements on December 31, 2020.Owner's equity - ?375,000; wages expense - ?60,000; Service revenues - ?150,000; prepaid rent expense - ?33,000; utilities expense - ?16,500; accrued expenses - ? 18,750; accrued interest income - ? 2,500; delivery expense - ?10,600. How much is the net income for the year ended?

A) ? 29,900
B) ? 46,650
C) ? 13,650
D) ? 62,900

Reference no: EM132737790

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