The Unadjusted Net Income on the Income Statement Was $64,916

Multiple Choice

The unadjusted net income on the income statement was $64,916. After journalizing and posting the adjusting entries for expired insurance during the year of $3,400 and for supplies used during the year of $1,480, the adjusted net income is:

A) $69,796.
B) $61,516.
C) $64,916.
D) $60,036.