These items are taken from the financial statements of Blue Spruce Corp. at December 31, 2022.

Buildings		$ 102,800
Accounts receivable		12,400
Prepaid insurance		4,680
Cash		11,840
Equipment		82,200
Land		61,200
Office expense		580
Income tax expense		200
Depreciation expense		5,700
Interest expense		2,000
Common shares		62,000
Retained earnings (January 1, 2022)		40,000
Accumulated depreciationbuildings		45,100
Accounts payable		8,400
Income taxes payable		1,000
Bank loan payable (due July 1, 2024)		92,400
Accumulated depreciationequipment		18,720
Interest payable		3,600
Sales		12,380

(a)

Calculate the net income for the year.

Net income

$ enter a total net income or loss amount

List of Accounts

Assistance Used

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation - Buildings
• Accumulated Depreciation - Computer Equipment
• Accumulated Depreciation - Equipment
• Bank Loan Payable
• Buildings
• Cash
• Common Shares
• Computer Equipment
• Current Portion of Bank Loan Payable
• Current Portion of Mortgage Payable
• Deferred Revenue
• Depreciation Expense
• Equipment
• Income Tax Expense
• Income Tax Payable
• Income Tax Receivable
• Insurance Expense
• Insurance Revenue
• Interest Expense
• Interest Income
• Interest Payable
• Interest Receivable
• Inventory
• Land
• Long-Term Investments
• Long-Term Other Receivables
• Mortgage Payable
• Operating Expense
• Prepaid Expense
• Prepaid Insurance
• Rent Expense
• Rent Income
• Rent Payable
• Rent Revenue
• Repairs and Maintenance Expense
• Retained Earnings
• Salaries Expense
• Salaries Payable
• Service Revenue
• Supplies
• Supplies Expense
• Trading Investments
• Utilities Expense