Use the adjusted trial balance for stockton company to answer the question that follow. stockton company adjusted trial balance december 31 cash 6,553 accounts receivable 2,432 prepaid expenses 669 equipment 13,951 accumulated depreciation 1,321 accounts payable 1,705 notes payable 5,197 bob steely, capital 13,437 bob steely, withdrawals 623 fees earned 7,304 wages expense 3,335 rent expense 844 utilities expense 330 depreciation expense 160 miscellaneous expense 67 totals 28,964 28,964 determine the net income (loss) for the period. net loss $6,233 net loss $2,568 net income $2,568 net income $28,964

net income $2,568

Explanation:

Net income = revenues - expense

We will list the revenues and the expenses accounts:

       Fees Earned                      7,304

Wages Expense          3,335

Rent Expense                 844

Utilities Expense            330

Depreciation Expense   160

Miscellaneous Expense  67

Total expenses           4,736

Net Income                            2,568

turnover

the amount of money taken by a business in a particular period.

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.