Siemen's Inc. compiled the following financial information as of December 31, 20 numbers): Accounts payable $100,000 Accounts receivable 350,000 Accumulated depreciation, equipment 75,000 Cash 500,000 Common stock 377,000 Cost of goods sold 675.000 Dividends 50,000 Equipment 300,000 Land 125.000 Note payable due within 6 months 90.000 Prepaid rent 80.000 505,000 Retained earnings 900,000 Sales Selling and administrative expenses 9.000 $1,000 Supplies 123,000 Unearned revenue Siemen's Inc. net income for the year ending December 31, 2022 $166,000