The total assets and liabilities of Company at January 1 and December 31,2022 are presented below. January 1 December 31 Assets $95,000 $140,000 Liabilities 30,000 36,000

(a) Assume dividends of $10,800 were paid and no additional stock was issued during the year. Revenues were $110,000.

Compute net income, and expenses. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses