The following are the current month’s balances for Adams Mar

The following are the current month’s balances for Adams Marketing Company

Accounts Payable $7,000
Revenue 11,000
Cash 3,000
Expenses 1,500
Furniture 14,000
Accounts Receivable 14,000
Common Stock 10,250
Notes Payable 5,500

What is the net income for Adams Marketing for the current month?
A) $11,000
B) $9,500
C) $12,500
D) $14,000

ANSWER

B .Revenue $11,000
Expenses (1,500 )
Net Income $9,500