Compute the net income for 2016 based on the following amounts presented on the adjusted trial balance of Fley Company. $\begin{array} { l r }
\text { Accumulated Depreciation - Equip. } & \$ 25,000 \
\text { Depreciation Expense } & 14,000 \
\text { Salaries and Wages Expense } & 25,000 \
\text { Service Revenue } & 48,000 \
\text { Unearned Service Revenue } & 7,000
\end{array}$

Question

Compute the net income for 2016 based on the following amounts presented on the adjusted trial balance of Fley Company. $\begin{array} { l r } 
\text { Accumulated Depreciation - Equip. } & \$ 25,000 \
\text { Depreciation Expense } & 14,000 \
\text { Salaries and Wages Expense } & 25,000 \
\text { Service Revenue } & 48,000 \
\text { Unearned Service Revenue } & 7,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Compute the net income for 2016 based on the following amounts presented on the adjusted trial balance of Fley Company. $\begin{array} { l r } 
\text { Accumulated Depreciation - Equip. } & \$ 25,000 \
\text { Depreciation Expense } & 14,000 \
\text { Salaries and Wages Expense } & 25,000 \
\text { Service Revenue } & 48,000 \
\text { Unearned Service Revenue } & 7,000
\end{array}$

Compute the Net Income for 2016 Based on the Following