After all of the account balances have been extended to the income statement columns of the end-of-period spreadsheet, the totals of the debit and credit columns are $77,500 and $83,900, respectively. what is the amount of the net income or net loss for the period?

Net income = $6400

Step-by-step explanation:

As per the question,

Total debit columns after all of the account balances have been extended to the Income Statement columns of the end-of-period spreadsheet is given,

Total debit =  $77,500

Total credit columns after all of the account balances have been extended to the Income Statement columns of the end-of-period spreadsheet is given,

Total credit = $83,900

The amount of the net income or net loss for the period is given by

= Total credit - Total debit

= $83,900 - $77,500

= $6400

As the outcome is positive, it implies net income.

Hence, the required net income for the period = $6400

wholesale price is the initial price before markup. retail price comes after the markup.

a price of 8 bucks that's marked up by 100%   is

formula: initial price + (percent markup in fraction/decimal)(initial price)

8+(1)(8)

8+8

16

retail price is $16.