What is the net income?

As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $10,300 Accounts receivable 9,300 Supplies Equipment Accounts payable 6,300 5,300 10,900 Common stock 14,000 4,300 6,300 13,300 Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue 33,600 Rental revenue 22,600 20,300 Salaries expense Rent expense 12,300 8,300 Selling and administrative expenses Required: Prepare a yearend statement of owner's equity for Armani Company. ARMANI COMPANY Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, December 31, 2016 Add: Net income $ 4,300 16,200 20,500 Less: Dividends (13,300) $ 6,300 Retained earnings, December 31, 2017