Key West Co. showed the following account balances at the end of its first year (assume all accounts have normal balances): Cash Equipment Depreciation expense Service revenue Prepaid insurance Accumulated depreciation - equipment Salaries and wages expense Accounts receivable Accounts payable Rent expense Notes payable Common stock Unearned service revenue Dividends Insurance expense Interest expense $2,000 5,000 2,000 17,000 3,500 2,000 4,000 2,500 2,000 2,500 3,000 1,000 2,000 500 3,000 1,500 Net income for the first year is