The following information was drawn from the accounting record of a company as of December 31, 2014, before the temporary accounts had been closed. The cash balance was 2650, notes payable amounted to 24450. The company had revenues of 3590 and expenses of 2870. The company's land account had a 4500 balance. Dividend amounted to 200. There was 1100 of common stock issued.

Assuming the company beginning balance in the retained earnings account was 3800 determine its balance after the temporary accounts were closed at the end of 2014

What amount of net income would the company report on its income statement