Please tell me what is the total equity and net income Pleas

Please tell me what is the total equity and net income. Please explain in depth how you found them.

The following is the Bravo Unlimited adjusted Trial Balance. Bravo Unlimited Adjusted Trial Balance December 31, 2016 Account Title Cash Accounts Receivable Supplies Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Wages Payable Capital Stock Retained Earnings Service Revenue Interest Income Rent Expense Wages Expense Supplies Expense Depreciation Expense Dividends Debit $88,450 331,860 11,255 5,500 295,285 Credit $236,260 72,555 10,000 220,000 111,145 898,105 1,500 66,000 537,260 42,520 164,595 6,840 Totals 1,549,565 1,549,565

Solution

Calculate net income :

Calculate total equity :

Revenue
Service revenue	898105
Interest income	1500
Total revenue	899605
Less: Rent expense	-66000
Less: Wages expense	-537260
Less; Supplies expense	-42520
Less: Depreciation expense	-164595
Total expense	-810375
Net income	89230