After All of the Account Balances Have Been Extended to the Balance

question 196

Multiple Choice

After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the Debit and Credit columns are $36,755 and $32,735, respectively. What is the amount of net income or net loss for the period?

• A) $4,020 of net income
• B) $36,755 of net loss
• C) $4,020 of net loss
• D) $32,735 of net income