A company's financial records at the end of the year included the following amounts: 1
Cash
Accounts Receivable
Supplies
Accounts Payable
Notes Payable
Retained Earnings, beginning of year
Common Stock
Service Revenue
Wages Expense
Advertising Expense
Rent Expense
$ 71,200
29, 200
5,200
11, 200
5,600
18,200
52,000
45,200
9,200
6,200
11, 200
What is the amount of net income on the Income Statement for the year?
Multiple Choice