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

Cash	$	70,600
Accounts receivable		28,600
Supplies		4,600
Accounts payable		10,600
Notes payable		5,300
Retained earnings, beginning of year		17,600
Common stock		46,000
Service revenue		49,100
Wages expense		8,600
Advertising expense		5,600
Rent expense		10,600

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