A company provided the following account balances after adjusting entries were made for the most recent year: Advertising Expense $ 5,000 Accounts Payable 8,000 Accounts Receivable 28,000 Cash 70,000 Common Stock 40,000 Deferred Revenue 2,000 Notes Payable (due in 2 years) 5,000 Rent Expense 10,000 Retained Earnings, beginning of 17,000 year Service Revenue 53,000 Supplies 4,000 Wages Expense What is the amount of net income for the year? 8,000