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 CreditCash975 Accounts receivable 300 Prepaid insurance3,600 150Supplies180 70Equipment10,320 Accumulated depreciation-equipment 190Accounts payable 1,140 Salaries payable 315Unearned fees 4,500 375 Retained earnings 9,180 Dividends1,650 Fees earned 5,850 375 300Rent expense1,500 Salaries expense2,100 315 Utilities expense345 Insurance expense 150 Supplies expense 70 Depreciation
expense-equipment 190 Totals20,670 20,670 1,400 1,400
A. $1,400.
B. $2,060.
C. $1,905.
D. $1,855.
E. $4,670.
Answer: D
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