Based on the following adjusted trial balance, prepare an income statement for Summers Company for the year ended December 31, 2019.

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\text {Summers Company}

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\text {Adjusted Trial Balance}

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\text {December 31, 2019}

\begin{array}{lrr} & \text { Debit } & \text { Credit } \\\text { Cash } & \$ 10,500 & \\\text { Accounts receivable } & 20,000 & \\\text { Supplies } & 2,700 & \\\text { Office fumiture } & 10,000 & \\\text { Accum. amort. -office furniture } & & \$ 4,350 \\\text { Salary payable } & & 760 \\\text { Unearned service revenue } & & 1,140 \\\text { Jody Summers, Capital } & & 12,550 \\\text { Jody Summers, Withdrawals } & 2,800 & \\\text { Service revenue } & & 40,060 \\\text { Salary expense } & 8,360 & \\\text { Rent expense } & 2,850 & \\\text { Amort expense-office furn. } & 350 & \\\text { Supplies expense } & \underline{1,300} &\underline{\quad\quad} \\ \text { Total } & \$ 58,860 & \$ 58,860\end{array}

The Net Income or Loss for the Period Is Placed

Multiple Choice