The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. Common stock, 10,500 and 10,000 shares, respectively, for 2020 and 2019 Preferred stock, 5,000 shares Retained earnings 2020 2019 $162,300 $141,500 104,000 104,000 297,900 247,500 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $11.400 and increase common stock by $11.400. Cash dividends were $16,800 in both 2020 and 2019. The common stock has no par or stated value. (a) What was the amount of net income reported by Kerbs Corp. in 2020? Net income $