The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings What is Trumpeter's net income? $12,100 4,600 2,600 5,800 66,200 28,600 21,300 4,700 4,000 66,000 18,700
The following table contains financial information for Trumpeter Inc. before closing entries: Cash Supplies Prepaid Rent Salaries Expense Equipment Service Revenue Miscellaneous Expenses Dividends Accounts Payable Common Stock Retained Earnings What is Trumpeter's net income? $12,100 4,600 2,600 5,800 66,200 28,600 21,300 4,700 4,000 66,000 18,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Accounting
![**Financial Information of Trumpeter Inc.**
The following table contains financial information for Trumpeter Inc. before closing entries:
| **Item** | **Amount** |
|-------------------------------|------------|
| Cash | $12,100 |
| Supplies | $4,600 |
| Prepaid Rent | $2,600 |
| Salaries Expense | $5,800 |
| Equipment | $66,200 |
| Service Revenue | $28,600 |
| Miscellaneous Expenses | $21,300 |
| Dividends | $4,700 |
| Accounts Payable | $4,000 |
| Common Stock | $66,000 |
| Retained Earnings | $18,700 |
**Question:**
What is Trumpeter's net income?
Answer the question by choosing from multiple choice options provided below.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F732e8e26-2fef-446c-9385-c3c5cf86e499%2F4fc7ef18-e8cd-4a53-adcd-75161233aecb%2Fq7goh3l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:**Financial Information of Trumpeter Inc.**
The following table contains financial information for Trumpeter Inc. before closing entries:
| **Item** | **Amount** |
|-------------------------------|------------|
| Cash | $12,100 |
| Supplies | $4,600 |
| Prepaid Rent | $2,600 |
| Salaries Expense | $5,800 |
| Equipment | $66,200 |
| Service Revenue | $28,600 |
| Miscellaneous Expenses | $21,300 |
| Dividends | $4,700 |
| Accounts Payable | $4,000 |
| Common Stock | $66,000 |
| Retained Earnings | $18,700 |
**Question:**
What is Trumpeter's net income?
Answer the question by choosing from multiple choice options provided below.
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