Riley Company borrowed $52,000 on April 1, Year 1 from Titan Bank. The note issued by Riley carried a one-year term and a 8% annual interest rate. Riley earned cash revenues of $1,180 during Year 1 and $2.100 during Year 2. Assume no other transactions. Based on this information alone, what is the amount of net income (loss) that will be reported on the Year 2 income statement? O Multiple Choice $1,030 $1,070 $(10) $3,130