View Policies Current Attempt in Progress These items are taken from the financial statements of Concord Corp. at December 31, 2025. Buildings $111,100 Accounts receivable 13,200 Prepaid insurance 4,910 Cash 12.430 Equipment 86,500 Land 64,3001 Office expense 610 Income tax expense 208 Depreciation expense 5,520 Interest expense 2,730 Common shares 65.100 Retained earnings (January 1, 2025) 42.000 Accumulated depreciation-buildings 47,900 Accounts payable 8.820 Question 2 of 3 < > Common snares 65,100 Retained earnings (January 1, 2025) 42,000 Accumulated depreciation-buildings 47.900 Accounts payable 8,820 Income taxes payable 1,160 Bank loan payable (due July 1, 2027) 98,300 Accumulated depreciation-equipment 19,660 Interest payable 3,780 Service revenue 14,788 (a) Calculate the net income for the year. Net income $ eTextbook and Media List of Accounts