Cash on hand and in bank P 5,960 1,200 8,000 1,100 1,000 1,800 4,000 300 600 Utilities expense Accounts receivable Depreciation expense Allowance for doubtful accounts Rent expense Notes receivable...

Extracted text: Cash on hand and in bank P 5,960 1,200 8,000 1,100 1,000 1,800 4,000 300 600 Utilities expense Accounts receivable Depreciation expense Allowance for doubtful accounts Rent expense Notes receivable Interest income Supplies Service fees Manalo, drawing Manalo, Capital Prepaid rent Building Accounts payable Salaries payable Accumulated depreciation Unearned service fees 32,000 4,500 48,630 820 88,000 6,000 1,450 18,000 8,600 Compute for the following: (Show computations) 1. Profit (Loss)- please indicate if it is "Profit" or "Loss"