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The trial balance of a XYZ Company, on the 31st of December 2019, after adjusting entries are made, is presented to you below: XYZ Co. Trial Balance December 31, 2019 Cash   $ 15500   Accounts Receivable   $ 12750   Office Equipment   $ 22500   Accumulated Depreciation     $ 6000 Accounts Payable     $ 7750 Capital Stock     $ 22500 Retained Earnings     $ 0 Dividends   $ 7500   Service Fees Earned     $ 45500 Salaries Expense   $ 16000   Advertising Expense   $ 3250   Depreciation Expense         $ 4250                        $81,750 $81,750 Based on the information given to you above, the Net Income of the company for the period is equal to:

The trial balance of a XYZ Company, on the 31st of December 2019, after adjusting entries are made, is presented to you below: XYZ Co. Trial Balance December 31, 2019 Cash   $ 15500   Accounts Receivable   $ 12750   Office Equipment   $ 22500   Accumulated Depreciation     $ 6000 Accounts Payable     $ 7750 Capital Stock     $ 22500 Retained Earnings     $ 0 Dividends   $ 7500   Service Fees Earned     $ 45500 Salaries Expense   $ 16000   Advertising Expense   $ 3250   Depreciation Expense         $ 4250                        $81,750 $81,750 Based on the information given to you above, the Net Income of the company for the period is equal to:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The trial balance of a XYZ Company, on the 31st of December 2019, after adjusting entries are made, is presented to you below:

XYZ Co.
Trial Balance
December 31, 2019
Cash   $ 15500  
Accounts Receivable   $ 12750  
Office Equipment   $ 22500  
Accumulated Depreciation     $ 6000
Accounts Payable     $ 7750
Capital Stock     $ 22500
Retained Earnings     $ 0
Dividends   $ 7500  
Service Fees Earned     $ 45500
Salaries Expense   $ 16000  
Advertising Expense   $ 3250  
Depreciation Expense         $ 4250                   
    $81,750 $81,750

Based on the information given to you above, the Net Income of the company for the period is equal to:

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