Sparty Corporation has provided the following information for its most recent year of operation:

Revenues earned were $90,000, of which $6,000 were uncollected at the end of the year.

Operating expenses incurred were $49,000, of which $6,000 were unpaid at the end of the year.

Dividends declared were $12,000, of which $3,000 were unpaid at the end of the year.

Income tax expense is $14,350.

What is the amount of net income reported on Sparty's income statement?rev: 01_04_2015_QC_CS-37143

Multiple Choice

• $18,850

• $20,800

• $26,750

• $26,650