On Waterfall, Inc.s balance sheet for the fiscal years ended December 31, 2018 and 2019, they reported the following information:20192018Total Assets$5,620,000$5,310,000Total Liabilities$3,100,000$2,920,000During 2019, common stock was issued at par value for $40,000 and cash dividends of $7,000 were declared and paid. What was the amount of net income for 2019?