These items are taken from the financial statements of Grouper Corp. at December 31, 2018. Buildings Accounts receivable Prepaid insurance $126,960 15,120 5,616 Cash 14.208 Equipment 98.880 Land 73,440 Office expense 696 Income tax expense 240 Depreciation expense 6,360 Interest expense 3.120 Common shares 74,400 Retained earnings (January 1, 2018) 48.000 Accumulated depreciation-building 54,720 Accounts payable 10,080 Income taxes payable 1,320 Bank loan payable (due July 1, 2020) 112,320 Accumulated depreciation-equipment 22,464 Interest payable 4,320 Sales 17,016 (a) Calculate the net income for the year. Net income/(loss) S