Cash $ 71,900 Accounts Receivable 29,900 Supplies 5,900 Accounts Payable 11,900 Notes Payable 5,950 Retained Earnings, beginning of year 18,900 Common Stock 59,000 Service Revenue 40,650 Wages Expense 9,900 Advertising Expense 6,900 Rent Expense 11,900

What is the amount of net income on the income statement for the year?