advanced technologies has had quite a successful year. its assets liabilities, revenues, and expenses at the end of the current fiscal year are shown in the table below.

Determine the net income of the company for the current year.

Records of Financial Entries of Advanced Technologies No. liems Thousands of dollars 1 Accounts payable 3,740 2 Accounts receivable 7,550 3 Advertising expense 3,340 Administrative expense 5,500 5 Building (net) 36,300 6 Cash 6,320 7 Cost of goods sold 31,000 8 Depreciation expense-building 960 9 Depreciation expense-quipment 1,310 10 Equipment (net) 14,640 Inventory 11,000 Insurance expense 840 13 Interest expense 2,100 Land 2,100 15 Long-term loans outstanding 42,000 16 Miscellaneous expense 1480 17 R&D 5,200 18 Salaries payable 19 Sales revenue 60,300 Supplies expense 1,820 21 Taxes expense 2,630 22 Taxes payable 610 23 Utilities expense 2,070 11 12 14 170 20