Jackson Services had the following accounts and balances at December 31:AccountDebit CreditCash$20,000 Accounts Receivable 6,000 Prepaid Insurance 1,500 Supplies 5,000 Accounts Payable $500 Common Stock 16,200 Dividends 1,000 Service Revenue 20,000 Utilities Expense 2,000 Salaries Expense 1,200 Totals$36,700 $36,700 Using the information in the table, calculate the company's reported net income for the period.
A. $10,300.
B. $15,800.
C. $16,800.
D. $23,200.
E. $15,300.
Answer: C
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