The Following Are the Current Month's Balances for Adams Marketing

question 140

Multiple Choice

The following are the current month's balances for Adams Marketing Company. $$\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 7,000 \\\hline \text { Revenue } & 11,000 \\\hline \text { Cash } & 3,000 \\\hline \text { Expenses } & 1,500 \\\hline \text { Furniture } & 14,000 \\\hline \text { Accounts Receivable } & 14,000 \\\hline \text { Common Stock } & 10,250 \\\hline \text { Notes Payable } & 5,500 \\\hline\end{array}$$ What is the net income for Adams Marketing for the current month?

• A)$11,000
• B)$9,500
• C)$12,500
• D)$14,000

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