Final answer:
The net income for Novak Corp. in 2022 is $16,830.
Step-by-step explanation:
To calculate the net income, we need to find the total revenues and deduct the expenses. From the given information:
- Service revenue: $76,250
- Advertising expense: $2,200
- Dividends: $6,100
- Rent expense: $12,690
- Utilities expense: $3,780
- Salaries and wages expense: $34,160
- Other comprehensive income (net of tax): $490
Net income is calculated by taking the total revenues and deducting the total expenses:
Net income = Total revenues - Total expenses
Net income = $76,250 - ($2,200 + $6,100 + $12,690 + $3,780 + $34,160 + $490)
Net income = $76,250 - $59,420 = $16,830
Therefore, the net income for Novak Corp. in 2022 is $16,830.