The following selected account balances were drawn from the financial statements of the XYZ Company at December 31 , end of the accounting period. Cash S15,000 Accounts Receivable $20,000 Salaries Expense $12,000 Service Revenue $30,000 Common Stock $13,700 Interest Expense $ 3,000 Salaries Payable $9,000 Ending Retained Earnings $34,000 Land $28,000 Unearned Revenue $6,300 Based on this information, the amount of net income shown on XYZ's December 31 income statement is

The following selected account balances were dravwn from the financial statements of the XYZ Company at December 31 , end of the accounting period. Cash \$15,000 Accounts Receivable \$20,000 Salaries Expense \$12,000 Service Revenue $30,000 Common Stock $13,700 Interest Expense $3,000 Salaries Payable \$ 9,000 Ending Retained Earnings $34,000 Land S28,000 Unearned Revenue S 6,300 Based on this information, the amount of net income shown on XYZ's December 31 income statement is