Riley Company borrowed $40,000 on April 1, Year 1 from the Titan Bank. The note issued by Riley carried o one year term and a 7% annual interest rate Riley earned cash revenue of $1,060 in Year 1 and $1.500 in Year 2. Assume no other transactions The amount of net income on the Year 2 income statement would be: Multiple Choice $2.000 $2.100 5700 5000