The following items are taken from the financial statements of Dinkel Company for the year ending December 31, 2010:
|
Accounts payable
|
$18,000
|
|
Accounts receivable
|
11,000
|
|
Accumulated depreciation - equipment
|
28,000
|
|
Advertising expense
|
21,000
|
|
Cash 15,000
|
15,000
|
|
Dinkel, Capital (1/1/10)
|
102,000
|
|
Dinkel, Drawing
|
14,000
|
|
Depreciation expense
|
12,000
|
|
Insurance expense
|
3,000
|
|
Note payable, due 6/30/11
|
70,000
|
|
Prepaid insurance (12-month policy)
|
6,000
|
|
Rent expense
|
17,000
|
|
Salaries expense
|
32,000
|
|
Service revenue
|
133,000
|
|
Supplies
|
4,000
|
|
Supplies expense
|
6,000
|
|
Equipment
|
210,000
|
What is the company's net income for the year ending December 31, 2010?