Kyla Inc. gathered together the following information as of the end of its first year in operations, July 31, 2020: Prepaid expense Common shares Note payable Accounts receivable Salary expense Supplies Truck Cost of goods sold $1,000 Cash 25,000 interest expense 9,300 Utilities expense 8,200 Salary payable 19,400 Service revenue 2,500 Accounts payable 14,600 Dividends 7,000 Unearned revenue $19,800 1,500 5,000 1,200 45,500 6,700 9,900 1,200 If you are asked to prepare an income statement for Kyla Inc. for the year ended July 31, 2020, how much will the net income be for the year ended July 31, 2020? 1) $19,600 2) $12,600 3) $13,800 4) $11,600