These items are taken from the financial statements of Ayayai Corp. at December 31, 2022. Buildings $102,800 Accounts receivable 11,400 Prepaid insurance 4,680 Cash 11,840 Equipment 82,000 Land 60,000 Office expense 580 Income tax expense 200 Depreciation expense 5,000 Interest expense 2,000 Common shares. 62,000 Retained earnings (January 1, 2022) 40,000 Accumulated depreciation-buildings 45,000 Accounts payable 8,000 Income taxes payable 1,000 Bank loan payable (due July 1, 2024) 92,000 Accumulated depreciation-equipment 18,720 Interest payable 3,600 10,180 Sales a) Your answer is correct. Calculate the net income for the year. Net income $ eTextbook and Media List of Accounts 2400 Attempts: 1 of 15 used Statement of Financial Position For the Year Ended December 31.2022 For the Year Ended December 31, 2022 December 31, 2022 For the Month Ended December 31, 2022 S Liabilities and Shareholders' Equity