Multiple Choice
The owner's Capital,Withdrawals,and Income Summary accounts for Laurel Repair Company for the accounting period are presented below in T account form after the recording and posting of closing entries: 
-The amount of net income (or net loss) for the period is
A) $400 net loss.
B) $500 net income.
C) $900 net income.
D) $400 net income.
Correct Answer:
Verified
Correct Answer:
Verified
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