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The Following Are the Current Month's Balances for Adams Marketing

Question 140

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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\begin{array} { | l | r | } \hline \text { Accounts Payable } & \$ 7,000 \\\hline \text { Revenue } & 11,000 \\\hline \text { Cash } & 3,000 \\\hline \text { Expenses } & 1,500 \\\hline \text { Furniture } & 14,000 \\\hline \text { Accounts Receivable } & 14,000 \\\hline \text { Common Stock } & 10,250 \\\hline \text { Notes Payable } & 5,500 \\\hline\end{array} What is the net income for Adams Marketing for the current month?


A) $11,000
B) $9,500
C) $12,500
D) $14,000

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