The following items are taken from the financial statements of Blossom Company for 2022: Accounts payable $10,000 Accounts receivable 11,000 Accumulated depreciation-equipment 36,000 Advertising expense 20,000 Cash 13,000 Common stock 80,000 Depreciation expense 11,000 Dividends 14,000 Equipment 200,000 Insurance expense 2,000 dy Notes payable 60,000 Prepaid insurance 5,000 Rent expense 15,000 Retained earnings (beginning) 13,500 Salaries and wages expense 33,000 Salaries and wages payable 2,500 Service revenue 130,000 Supplies 3,000 Supplies expense 5,000 (a) Calculate the net income. Net income