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11 Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash...

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11 Stockton Company Adjusted Trial Balance December 31 Account Debit Credit No. Balances Balances Cash 6,813 Accounts Receivable 2,182 Prepaid Expenses 708 Equipment 18 15,308 Accumulated Depreciation 1,345 Accounts Payable 1,725 Notes Payable ! 22 4,600 Bob Steely, Capital 14,902 Bob Steely, Drawing Fees Earned 7,767 Wages Expense 3,193 Rent Expense 52 827 Utilities Expense 334 Depreciation Expense 54 175 Miscellaneous Expense 82 Totals 30,339 30,339 Use the adjusted trial balance for Stockton Company. Determine the net income (loss) for the period. a. Net income is $30,339. b. Net income is $3,156. c. Net loss is $6,683. Cd. Net loss is $3,156. 717

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