1.

A companys financial records at the end of the year including the following amounts:

Cash	$	71,600
Accounts receivable		29,600
Supplies		5,600
Accounts payable		11,600
Notes payable		5,800
Retained earnings, beginning of year		18,600
Common stock		56,000
Service revenue		42,600
Wages expense		9,600
Advertising expense		6,600
Rent expense		11,600

Required information

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

A) $14,800.

B) $24,400.

C) $33,400.

D) $92,000.