Question: Question 3.1 (Total: 15 marks for completed income statement-3 marks per error) Presented below is selected information pertaining to Pineapple Enterprises Ltd. for last year:

Question 3.1 (Total: 15 marks for completed income statement-3 marks per error) Presented below is selected information pertaining to Pineapple Enterprises Ltd. for last year: Account Increase (Decrease) Cash $22,000 (9,000) Accounts Receivable (net) Inventory Plant Assets (net) Accounts Payable Bonds Payable Common Shares 48,000 24,000 28,000 (14,000) 72,000 The only entry to retained earnings were for net income and a dividend declaration of $12,000. Required Calculate the net income for last year

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