A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end.
Common Stock
12/31 8,500 1/1 6,500
12/31 15,000
Retained Earnings
6/30 3,500 12/31 15,000
11/30 5,000
Income Summary
12/31 18,500 12/31 33,500
12/31 15,000
Net income for the period is
a. $15,000
b. $33,500
c. $13,000
d. $18,500
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