Compute the Net Income for 2022 Based on the Following

Essay

Compute the net income for 2022 based on the following amounts presented on the adjusted trial balance of Fley Company. $\begin{array}{lc}\text { Accumulated Depreciation - Equip. } & \$ 25,000 \\\text { Depreciation Expense }& 14,000 \\\text { Salaries and Wages Expense } & 25,000 \\\text { Service Revenue } &48,000 \\\text { Salaries and Wages Payable } & 7,000\end{array}$