The income statement and balance sheet columns of Pine Company’s

The income statement and balance sheet columns of Pine Company’s worksheet reflects the following totals:
Income Statement Balance Sheet Dr. Cr. Dr. Cr.
Totals $58,000 $48,000$34,000 $44,000
The net income (or loss) for the period is __________.
A.   not determinable B.   $10,000 loss C.   $10,000 income D.   $48,000 income

Solution