At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:

Account	Balance
Cash	$	31,800
Accounts receivable		20,900
Accounts payable		14,900
Common stock		23,900
Retained earnings		13,900

The following events apply to Oak Consulting for Year 2:

1. Provided $65,500 of services on account.
2. Incurred $3,500 of operating expenses on account.
3. Collected $46,800 of accounts receivable.
4. Paid $39,100 cash for salaries expense.
5. Paid $16,560 cash as a partial payment on accounts payable.
6. Paid a $9,600 cash dividend to the stockholders.

• Record the closure of service revenue.
• Record the closure of expenses account.
• Record the payment of dividends.
• What is the amount of net income for the year?