Hofnim, Inc
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Hofnim, Inc. had the following account balances on September 30, 2016. What is Hofnim's net income for the month of September?
| Accounts Payable | $9,900 |
| Capital Stock | 15,000 |
| Cash | 19,600 |
| Equipment | 19,100 |
| Fees Earned | 64,000 |
| Miscellaneous Expense | 19,700 |
| Rent Expense | 5,100 |
| Retained Earnings | 5,000 |
| Wages Expense | 16,450 |
a.$13,260
b.$22,750
c.$8,800
d.$17,750
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