These items are taken from the financial statements of Bridgeport Corp. at December 31, 2018. Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales $206,310 24,570 9,126 23,088 160,680 119,340 1,131 390 10,335 5,070 120,900 78,000 88,920 16,380 2,145 182,520 36,504 7,020 27,651 (a) Calculate the net income for the year. Net income/(loss) $ $