Question 21 Following is a list of financial statement items and amounts for XYZ as of 12/31/Year 1, the first year in operation. Accounts Receivable Accounts Payable Cash Common Stock Notes Payable Equipment Sales Revenue Fuel Expense Rent Expense Advertising Expense Salaries and Wages Expense Retained Earnings Dividends $ 40,500 30,500 10,050 20,500 10,100 50,250 102,500 10,050 10,400 5,050 20,500 ? 16,800 Compute the amount of net income for the year ended December 31, year 1. Show work. HTML Edit B I VA - A I E 33 x V K 12pt Paragraph