21 of 25 A company has the following account balances: revenues- $127,000; salary payable-S7,000; cost of goods sold-$50,000; dividends paid-$3,000; rent expense-$12,000; gain on sale of land-$4,000; accounts receivable-$13,000, cash-$15,000, and advertising expense- $8,000. What is net income for the period? O $57,000 O $8,000 O $77,000 O $61,000