AC116 UNIT 9 LAB ASSIGNMENT Question 8 The following account balances relate to the stockholders' equity accounts of Vaughn Corp. at year-end. 2022 2021 Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 $161,100 $142,000 Preferred stock, 5,000 shares, issued and outstanding Retained earnings 136,800 136,800 300.100 253,000 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $10,600. Cash dividends of $16,500 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. (a) What was the amount of net income reported by Vaughn Corp. in 2022? Net income $