Using the following information, compute NET INCOME.

Cost of Goods Sold $ 6,000

Interest Expense 1,100

Selling and Administrative Expense 750

Cash 400

Sales 10,000

Accrued Wages Payable 250

Dividends 700

Retained Earnings (beginning) 1,000

Income Tax Expense 1,200

$1,350

$950

$1,700

$700

$1,950