Vermont Ice Cream Co. makes fresh ice cream and distributes it to local ice cream shops to sell in their stores. At December 31, 2020. the accounts for Vermont were as follows: Accounts Payable $ 14,400 Land 286,000 Accounts Receivable 8,600 Common Stock 199,400 Building 1,156,000 Loan Payable (long-term) 70,000 A/D - Building 1,008,000 Note Payable 10,000 Equipment 100,000 Insurance Expense 24,000 A/D - Equipment 70,000 Depreciation Expense 58,000 Cash 72,800 Supplies 9,200 Salaries Payable 38,400 Retained Earnings, 1/1 76,000 Sales Revenue 1,000,000 Salaries Expense 153,600 Inventory 80,000 Supplies Expense 22,000 Cost of Goods Sold 500,000 Dividends 10,000 Other Expenses 6,000 Net income for 2020 is $236,400. $227,200. $309,200. $226,400