Sheridan Company purchased land and a building on January 1, 2022. Managements best estimate of the value of the land was $114,000 and of the building $228,000. However, management told the accounting department to record the land at $250,800 and the building at $91,200. The building is being depreciated on a straight-line basis over 15 years with no salvage value.

Calculate the annual change in net income