The following are the balances from the books of Red Stone Enterprises as of March 31, 2024. Calculate the company's net income.
Description
Debit (?)
Credit (?)
Capital Account
150,000
Drawings
20,000
Sales
300,000
Purchases
180,000
Wages
50,000
Utilities
10,000
Rent
25,000
Miscellaneous Exp.
5,000
Profit and Loss
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