After all of the account balances have been extended to the Income Statement columns of the work sheet, the totals of the Debit and Credit columns are $76,310 and $99,000, respectively. What is the amount of the net income or net loss for the period? a.$22,690 of net income b.$76,310 of net loss c.$22,690 of net loss d.$99,000 of net income

College Accounting (Book Only): A Career Approach
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Chapter4: Adjusting Entries And The Work Sheet
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Problem 2E: Classify each of the accounts listed below as assets (A), liabilities (L), owners equity (OE),...
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After all of the account balances have been extended to the Income Statement columns of the work sheet, the totals of the Debit and Credit columns are $76,310 and $99,000, respectively. What is the amount of the net income or net loss for the period?

a.$22,690 of net income
b.$76,310 of net loss
c.$22,690 of net loss
d.$99,000 of net income
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