These items are taken from the financial statements of Oriole Ltd. at December 31,2021 : Interest expense 4,000 Interest payable 2,600 Land 188,770 Long-term investments 30,970 Mortgage payable 103,000 Operating expenses 157,680 Prepaid insurance 1,500 Retained earnings, January 1 117,520 Service revenue 186,040 Supplies 1,340 Calculate net income and the ending balance of retained earnings at December 31,2021. Net income Retained Earnings \$ Assets: Lhabilities and Shareholders' Equity Liabilities and Stereholders' Equity 5 (-)