Using the data below, compute NET INCOME.

Wages Expense 200

Cash 220

Income Tax Expense 240

Prepaid Insurance Expense 120

Interest Expense 300

Interest Revenue 500

Unearned Rent Revenue 150

Accounts Payable 600

Inventory 800

Cost of Goods Sold 1,600

Sales Revenue 3,000

$2,790

$1,310

$2,760

$1,190

$1,160

$1,040