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Use the adjusted trial balance for Stockton Company to answer the question that follows. ...

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Accounting

Use the adjusted trial balance for Stockton Company to answer the question that follows.

Stockton Company Adjusted Trial Balance December 31
Line Item Description Amount Amount
Cash 6,793
Accounts Receivable 2,578
Prepaid Expenses 662
Equipment 15,292
Accumulated Depreciation 4,434
Accounts Payable 1,665
Notes Payable 4,617
Common Stock 1,000
Retained Earnings 10,145
Dividends 981
Fees Earned 8,933
Wages Expense 3,019
Rent Expense 858
Utilities Expense 330
Depreciation Expense 195
Miscellaneous Expense 86
Total 30,794 30,794

Determine the net income (loss) for the period.

a.net income $3,464

b.net loss $3,464

c.net loss $4,445

d.net income $4,445

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