Stosch Company's balance sheet reported assets of $92,000, liabilities of $25,000 and common stock of $22,000 as of December 31, Year 1. Retained Earnings on the December 31, Year 2 balance sheet is $58,000 and Stosch paid a $24,000 dividend during Year 2. What is the amount of net income for Year 2?

Multiple Choice

• $45,000

• $37,000

• $13,000

• $24,000