Use This Information to Answer the Following Question

question 15

Multiple Choice

Use this information to answer the following question. The Retained Earnings,Dividends,and Income Summary accounts for Gula's Repair Corporation for the accounting period are presented below in T account form after the recording and posting of closing entries:


The amount of net income (or net loss) for the period is

• A) $900 net income.
• B) $600 net income.
• C) $300 net loss.
• D) $300 net income.

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