Determine the net income or loss for the period

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Question - Use the adjusted trial balance for Stockton Company below to answer the questions that follow.

Stockton Company Adjusted Trial Balance 12/31/21

Cash

7,530


Accounts Receivable

2,100


Prepaid Expenses

700


Equipment

13,700


Accumulated Depreciation


1,100

Accounts Payable


1,900

Notes Payable


4,300

Common Stock


1,000

Retained Earnings


12,940

Dividends

790


Fees Earned


9,250

Wages Expense

2,500


Rent Expense

1,960


Utilities Expense

775


Depreciation Expense

250


Miscellaneous Expense

185

?

Totals

30,490

30,490

Required - Determine the net income (loss) for the period.

Reference no: EM133184580

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