The SkyBlue Corporation has the following adjusted trial balance at December 31, 2014.

Prepare an income statement for the year ended December 31, 2014. How much net income did the SkyBlue Corporation generate during 2014?

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Credit Debit $ 1,230 Cash Accounts Receivable 2,000 2,300 Prepaid Insurance Notes Receivable 3,000 Equipment 12,000 $ 2,600 Accumulated Depreciation Accounts Payable 1,600 Accrued Liabilities Payable 3,820 Wages Payable Income Taxes Payable 1,000 2,900 Unearned Rent Revenue 600 Contributed Capital 2,400 Retained Earnings 1,000 Dividends Declared 300 Sales Revenue 42,030 Rent Revenue 300 Wages Expense Depreciation Expense Utilities Expense 21,600 1,300 1,220 Insurance Expense 1,400 Rent Expense Income Tax Expense 9,000 2,900 $58,250 $58,250 Total