The following are the current month's balances for selected accounts of Sandlin Marketing Company. Accounts Payable $ 10 comma 000 Revenue 9 comma 000 Cash 1 comma 450 Expenses 1 comma 300 Furniture 14 comma 000 Accounts Receivable 16 comma 000 Common Stock 8 comma 250 Notes Payable 5 comma 500 What is the net income for Sandlin Marketing for the current month?

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan