Given the following adjusted trial balance: Debit Credit

Cash $1762

Accounts receivable 2224

Inventory 3311

Prepaid rent 91

Equipment 320

Accumulated depreciation-equipment

$55

Accounts payable 87

Unearned service revenue

129

Common stock 218

Retained earnings 7010

Service revenue 390

Interest revenue 59

Salaries and wages expense

170

Travel expense 70

Total $7948

Net income for the year is

The net income for the year is $209

Explanation:

Net income: It the income which is left after paying all the expenses.

In the simplest form,

The net income = Total revenue - total expenditure

So, the net income would equal to

= Service revenue + interest revenue - Salaries and wages expense - Travel expense

= $390 + $59 - $170 - $70

= $209

All other items which are presented in the question are related to the balance sheet so these all items would not be considered in the computation part.