Calculate the net income for the year.

These items are taken from the financial statements of Blue Spruce Corp.at December 31, 2018. Buildings $84.640 10,080 Accounts receivable Prepaid insurance 3,744 Cash 9,472 Equipment 65,920 Land 48.960 464 Office expense Income tax expense 160 Depreciation expense 4,240 Interest expense 2,080 Common shares 49,600 Retained earnings (January 1, 2018) 32,000 Accumulated depreciation-building 36.480 6.720 Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) 880 74.880 14,976 Accumulated depreciation-equipment Interest payable 2.880 Sales 11,344 (a) Calculate the net income for the year. Net income / (loss) $