The following select account data is taken from the records of Reese Industries for 2019. Reese Industries data Account Amount Sales Merchandise Inventory $626,373 531,458 Sales Discounts Interest Expense 53,452 3,474 Sales Returns and Allowances 80,000 Interest Revenue 10,514. Cost of Goods Sold 249,692 Rent Expense 11,271 Depreciation Expense: Office Equipment 3,277 Insurance Expense 2,362 Advertising Expense 11,803 Accounts Receivable Office Supplies Expense Rent Revenue Sales Salaries Expense Accounts payable 97,307 1,285 20,042 26,700 121,675 Common Stock 50,611 30,037 Marketing expense Use the data provided to calculate net income for 2019