The following items are taken from the financial statements of Oriole Company for 2022: Accounts payable $11,200 Accounts receivable 11,000 Accumulated depreciation-equipment 38,800 Advertising expense 20,000 Cash 13,600 Common stock 100,000 Depreciation expense 11,000 Dividends 15,400 Equipment 245,000 Insurance expense 3,600 Notes payable 80,000 Prepaid insurance 6,700 Rent expense 15,700 Retained earnings (beginning) 11,900 Salaries and wages expense 35,800 Salaries and wages payable 3,000 Service revenue 144,000 Supplies 4,900 Supplies expense 6,200 (a) Calculate the net income. Net income $