The income statement and balance sheet columns - 2726

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Request Description

The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals:

Income Statement  Balance Sheet Dr. Cr.  Dr. Cr.Totals  $58,000 $48,000  $34,000 $44,000

The net income (or loss) for the period is __________.

A.  $10,000 income

B.  $10,000 loss

C.  $48,000 income

D.  not determinable

Solution Description

The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: