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 BalanceAdjustments?DebitCreditDebitCreditCash985????Accounts receivable??310??Prepaid insurance3700???160?Supplies190???80?Equipment10,620????Accumulated depreciation-equipment???200?Accounts payable?1240???Salaries payable???325?Unearned fees?4600?385??Owner, Capital?9380???Owner, Withdrawals1750????Fees earned?6180??385?????310?Rent expense1600????Salaries expense2200??325??Utilities expense355????Insurance expense??160??Supplies expense??80??Depreciation
expense-equipment??200??Totals21,400?21,400?1460?1460?
A. $1460.
B. $4960.
C. $1955.
D. $2025.
E. $2180.
Answer: C
Business
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