Buildings		$107,800
Accounts receivable		12,200
Prepaid insurance		4,680
Cash		11,840
Equipment		82,200
Land		61,800
Office expense		580
Income tax expense		200
Depreciation expense		5,000
Interest expense		2,300
Common shares		62,000
Retained earnings (January 1, 2022)		40,000
Accumulated depreciationbuildings		45,900
Accounts payable		8,400
Income taxes payable		1,100
Bank loan payable (due July 1, 2024)		92,400
Accumulated depreciationequipment		18,720
Interest payable		3,600
Sales		16,480

(a)

Calculate the net income for the year.

Net income

$enter a total net income or loss amount