During 2024, Serenity Creek. Spa reported reverave of $21,000. Total expenses for the year were $16,000. Serenty Creek Spa ended the yoar with total assets af $29, 000, and it owed debts totaling $12,000. A year-end 2023, the business reported total assets of $24,000 and total fiahilities of $12,000 Rend the requitaments Requirement 1. Compute Seronity Creek Spa's net income for 2024 Begin by identifying the formula to calculate net income and then enter the amounts to solve for net income