Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Cash and cash equivalents Accounts receivable Inventory Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Total assets Accounts payable Beginning Balance Ending Balance $ 105,400 83,700 $126,650 90,200 112,400 102,500 301,500 319,350 297,000 287,000 99,000 198,000 71,750 215,250 $ 534,600 $ 499,500 $ 65,600 $ 116,500 Income taxes payable 50,900 68,600 Bonds payable 123,000 102,500 Common stock. 143,500 123,000 Retained earnings 116,500 124,000 Total liabilities and stockholders' equity $499,500 $534,600 During the year, Ravenna paid a $12,300 cash dividend and it sold a piece of equipment for $6,150 that had originally cost $14,400 and had accumulated depreciation of $9,600. The company did not retire any bonds or repurchase any of its own common stock during the year. 2. What net income would the company include on its statement of cash flows? Net income