After All the Account Balances Have Been Extended to All

question 44

Multiple Choice

After all the account balances have been extended to all columns of the worksheet, the totals of the debit and credit columns for the income statement columns are $35,350 and $38,750, respectively. It can be concluded the company has a:

• A)net income of $3,400.
• B)net loss of $3,400.
• C)$74,100 net loss.
• D)$74,100 net income.