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Your Company's blanace sheet reported common stock of $80,000 and retained earnings of $45,000 on January 1st, 2019. Retained earnings on the December 31st, 2019

Your Company's blanace sheet reported common stock of $80,000 and retained earnings of $45,000 on January 1st, 2019. Retained earnings on the December 31st, 2019 balance sheet was $62,000. During the year, the company paid a $4,500 dividend and borrowed $6,000 from the bank. How much was net income for 2019?

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