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What is the amount of net income on the income statement

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Question - A company's financial records at the end of the year including the following amounts:

Cash $ 70,600

Accounts receivable 28,600

Supplies 4,600

Accounts payable 10,600

Notes payable 5,300

Retained earnings, beginning of year 17,600

Common stock 46,000
Service revenue 49,100

Wages expense 8,600

Advertising expense 5,600

Rent expense 10,600

What is the amount of net income on the income statement for the year?

Reference no: EM132050324

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