Silver Chick started the year with the following: Assets $105,000, Liabilities $35.000, Common Stock $65,000, Retained Earnings $5.000 During the year, the company earned revenue of $5,500, all of which was received in cash and incurred expenses of $3.250, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,500 to owners. Assume no other activities occurred during the year. What was the amount of Silver Chick's net income for the year? Multiple Choice $5.500 $1.500 $3.250 $2.250 4 an Net