Question 12 XYZ company's financial records at the end of the year included the following amounts: Cash Accounts Receivable Supplies Accounts Payable Notes Payable Retained Earnings, beginning of year Common Stock Service Revenue Wages Expense Advertising Expense Rent Expense $70,000 28,000 4,000 10,000 5,000 17.000 40,000 53,000 8,000 5,000 10,000 What is the amount of net income on the income statement for the year?! 550.000 536.000