A company's financial records at the end of the year included the following amounts: Cash Accounts Receivable Supplies Accounts Payable Notes Payable Retained Earnings, beginning of year Common Stock Service Revenu Wages Expense Advertising Expense Rent Expense $ 70,400 28,400 4,400 10, 400 5, 200 17,400 44,000 50, 400 8, 400 5, 400 10, 400 What is the amount of net income on the Income Statement for the year?