Cain Co. reports net cash provided by operating activities of $38,500. It also reports the following information under "Adjustments to reconcile net income to net cash provided by operating activities" on its statement of cash flows (using the indirect method). Gain on sale of equipment Increase in accounts receivable Depreciation expense $11,400 4,700 8,400 Decrease in inventory Increase in prepaid expenses Decrease in wages payable $ 7,400 5,400 4.400 Determine Cain's net income. Net income