A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period? Unadjusted Trial Balance Adjustments Debit Credit Debit CreditCash1025? Accounts receivable 350? Prepaid insurance4100? 200?Supplies230? 120?Equipment11,820? Accumulated depreciation-equipment 240?Accounts payable 1640? Salaries payable 365?Unearned fees 5000? 425? Retained earnings 10,180? Dividends2150? Fees earned 7500? 425? 350?Rent expense2000? Salaries expense2600? 365? Utilities expense395? Insurance
expense 200? Supplies expense 120? Depreciation expense-equipment 240? Totals24,320? 24,320? 1700? 1700??
A. $2505.
B. $6120.
C. $2660.
D. $1700.
E. $2355.
Answer: E
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