On December 31, a companys records show the following selected accounts and amounts. Use this information to compute net income for the company.

Cash	$ 50,720	Consulting revenue	$ 54,000
Accounts receivable	44,720	Salaries expense	11,200
Office supplies	10,500	Rent expense	19,100
Office equipment	40,000	Telephone expense	1,720
Land	88,000	Miscellaneous expenses	1,040
Accounts payable	21,000

Multiple Choice

$29,720.

$20,940.

$(60).

$22,660.