During its first year of operations, Silverman Company paid $12,385 for direct materials and $10,600 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,600 while general, selling, and administrative expenses totaled $3,900. The company produced 6,650 units and sold 4,100 units at a price of $7.40 a unit. What was Silverman's net income for the first year in operation? Multiple Choice $20,740 $26,440 o o $6,350 $7,355