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

Cash	$	71,100
Accounts receivable		29,100
Supplies		5,100
Accounts payable		11,100
Notes payable		5,550
Retained earnings, beginning of year		18,100
Common stock		51,000
Service revenue		45,850
Wages expense		9,100
Advertising expense		6,100
Rent expense		11,100

1.

value: 2.00 points

Required information

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

$19,550.

$28,650.

$37,650.

$90,750.