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Using the following information to answer the questions 7-10. BIZ Co. reports the following information for the year ended December 31, 2022. Sales revenue$1,450,000Cost of

Using the following information to answer the questions 7-10. BIZ Co. reports the following information for the year ended December 31, 2022.

Sales revenue$1,450,000Cost of goods sold575,000Advertising expense100,000Sales salaries450,800Administrative salaries250,500Interest income28,000Interest expense24,400Dividends8,000Cash66,000Accounts receivable60,600Inventory50,000Property, plant and equipment350,200Accounts payable85,000Notes payable275,000Common stock10,000Retained earnings, Jan 1, 202287,500
What is net income

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