Given the following information, calculate net income. Sales Revenue Accounts Receivable Cash Wage Expense Interest Revenue Dividends Declared and Paid Retained Earnings Utilities Expense Wages Payable Cost of Goods Sold Common Stock $781,000 $50,000 $29,000 $75,000 $12,000 $12,000 $163,000 $35,000 $55,000 $192,000 $253,000 $529,000 $508,000 $520,000 $570,000 $642,000 $541,000 $479,000 $491,000