Answer:
The net income for the year is $209
Explanation:
Net income: It the income which is left after paying all the expenses.
In the simplest form,
The net income = Total revenue - total expenditure
So, the net income would equal to
= Service revenue + interest revenue - Salaries and wages expense - Travel expense
= $390 + $59 - $170 - $70
= $209
All other items which are presented in the question are related to the balance sheet so these all items would not be considered in the computation part.
