The Following Accounts Were Taken from the Adjusted Trial Balance

question 73

Multiple Choice

The following accounts were taken from the Adjusted Trial Balance columns of the work sheet:
$\begin{array}{l}\begin{array}{lll}\text { Accumulated Depreciation } \\\text { Fees Earned } \\\text { Depreciation Expense } \\\text { Insurance Expense } \\\text { Prepaid Insurance } \\\text { Supplies } \\\text { Supplies Expense }\end{array}\begin{array}{lll}\$ 3,200 \\17,400 \\1,300 \\400 \\4,800 \\900 \\3,800\end{array}\end{array}$
Net income for the period is

• A)$5,500
• B)$11,900
• C)$17,400
• D)$8,700

---

Definitions:

Estimated Regression

The process of estimating the relationship between a dependent variable and one or more independent variables.

SSR

Sum of Squares for Regression, a measure in statistical analysis that quantifies the variability explained by the regression model compared to the total variability of the data.

SST

Total Sum of Squares, a measure in statistics that quantifies the total variance in a dataset.

Yearly Income

The total amount of money earned by an individual or entity in one year.