Brown's net income for the month of march is $36,300.
Using this formula
Net income=Fees earned-Insurance expense-Advertising expense
Let plug in the formula
Net income=$72,900-$22,700-$13,900
Net income=$36,300
Therefore Brown's net income for the month of march is $36,300.
The complete question is:
Brown Company had the following account balances at March 31, 2019. What is Brown's net income for the month of March?
Accounts payable $ 8,000
Common stock 7,000
Fees earned 72,900
Insurance expense 22,700
Retained earnings 6,550
Advertising expense 13,900
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