The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. 2022 2021 Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 $160,800 $140,000 Preferred stock, 5,000 shares, issued and outstanding 125,000 125,000 Retained earnings 300,000 270,000 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. (a) Your answer is correct. What was the amount of net income reported by Molder Corp. in 2022? Net income $ 58,800