Check my wc Cheese Factory Incorporated reported the following information for the fiscal year ended August 31, 2018 Accounts Payable Accounts Receivable Cash (balance on September 1, 2017) Cash (balance on August 31, 2018) Common Stock Dividends Equipment Notes Payable Office Expenses Prepaid Rent Retained Earnings (beginning) Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Supplies Utilities Expense $ 154,000 24,000 84,000 86,000 100,000 13,000 764,000 39,000 140,000 61,000 419,000 1,000,000 179,000 1,813,000 41,000 575,000 Other cash flow information: Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees $ 35,000 53,800 1,516,000 A%252F%252Fims.meducation.com 252Fmgmiddleware mework Help Se You received partial credit in the previous attempt Check my work View 4 Required information of 2 Other cash flow Information Additional investments by stockholders Cash paid to purchase equipment Cash paid to suppliers and employees Repayments of borrowings Cash received from customers Cash received from borrowings Dividends paid in cash $ 35,000 53,000 1,516,000 164,000 1,700,000 13,000 Book 2-a. What would Cheese Factory's 2018 net income have been had it given a 6 percent pay increase to all employees on September 1 2017? (Input the amount as a positive value.) Net income decreased