Given the trial balance amounts below compute net income Common stock

Question

Given the trial balance amounts below, compute net income.

Common stock. $120,000 Accounts payable...$25,000

Cash.. $116,640 Accounts receivable.. $22,450

Supplies........ $ 1,500 Office equipment... $23,300

Prepaid rent. $ 3,200 Unearned revenue. $ 4,152

Service revenue... $ 20,000 Utilities expense.... $ 422

Beginning Shaving equipment $31,640
retained earnings. $ 30,000

A. $19,578
B. $20,528
C. $23,728
D. $49,578
E. $24,578

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