Kyla's Physio Corp. (KPC) reported revenues of $225,000 and expenses of $145,000 on its unadjusted trial balance at its December 31, Year 3, year end. Other pertinent facts follow: - Adjusting entries including accruals and deferrals are only recorded at year end. - On January 1, Year 3, KPC purchased equipment for $10,000. This is being depreciated on a straight-line basis over five years with no residual value. - On July 1, Year 3. KPC purchased a \$1,200 one-year insurance policy and debited prepaid expenses for this amount at time of purchase. - KPC is normally billed for its utilities on the 17th of the month. The company estimates that it consumed $300 of utilities from December 18 to 31 . - KPC earned $1,100 interest revenue on a note receivable during the year. The note, together with accrued interest, will be paid in full next year. - On September 1, Year 3, KPC received $2.400 cash in advance for agrecing to provide 20 physiotherapy sessions to its client at a later date. This amount was credited to unearned service revenue. KPC provided 15 sessions to its client by December 31 , Year 3. What was KPC's net income for its year ended December 31, Year 3 ? $78,200 $78,900 $80,000 $82.000