Question 1 of 2 These items are taken from the financial statements of Martinez Corp. at December 31, 2022 Buildings $ 107,800 Accounts receivable 11,400 Prepaid insurance 4,680 Cash 11,840 Equipment 82,000 Land 60,400 Office expense 580 Income tax expense 200 Depreciation expense 5,400 Interest expense 2,300 Common shares 62,000 Retained earnings (January 1, 2022) Accumulated depreciation-buildings 40,000 45,700 Accounts payable 8,200 Income taxes payable 1,200 Bank loan payable (due July 1, 2024) 93,200 Accumulated depreciation-equipment 18.720 Accounts payable 8,200 1,200 93,200 Income taxes payable Bank loan payable (due July 1, 2024) Accumulated depreciation-equipment Interest payable 18,720 3,600 Sales 13,980 (a) Calculate the net income for the year. Net income $ List of Accounts Save for Later Attempts: 0 of 3 use