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Tom Cat Ine, had the following compary transactions during 2022 : Paid \$8,000 Cash and...

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Accounting

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Tom Cat Ine, had the following compary transactions during 2022 : Paid \$8,000 Cash and recorded Salaries \& Wage Expense Recorded $24,000 in Sales on account Paid off a $3,000 account payable. Accrued \$1,000 in advertising expense Lastly, at the end of the year the company purchased a laptop for $2,000. The company treats it as a long term resource for business use. They will use it more than one year. What is Tom Cat's net income using accrual accounting rules? (Hint: Remember when revenue and expense are recognized!) 10,000 13,000 15,000 22,000

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