Reference no: EM131284748
A company’s December 31 work sheet for the current period appears below. Based on the information provided, what is the net income for the current period?
Unadjusted Trial Balance Adjustments Debit Credit Debit Credit Cash $985
Prepaid Insurance $3,610 $160
Supplies $190 $80
Equipment $10,330
Accounts Payable $1,150
Unearned fees $4,510 $385
Common Stock $9,230
Dividends $1,660
Fees earned $5,860 $385 $310
Rent expense $1,510
Salaries expense $2,110 $325
Utilities expense $355
Insurance expense $160
Supplies expense $80
Depreciation expense - equipment $200
Accumulated depreciation - equipment $200
Salaries payable $325
Accounts receivable $310
Totals $20,750 $20,750 $1,460 $1,460
a. $1,460
b. $1,815
c. $1,885
d. $1,590
e. $1,406
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