The following balances were found on STANLEY Supplies Corpor…

The following balances were found on STANLEY Supplies Corporation’s trial balance as of December 31, 2027 (in absolute numbers):     Accounts payable                             $2,437,500 Accounts receivable                             8,531,250 Accumulated depreciation, equipment                             1,828,125 Cash                           14,137,500 Common stock                             9,189,375 Cost of goods sold                           16,453,125 Dividends                             1,218,750 Equipment                             7,312,500 Land                             3,046,875 Note payable due within 6 months                             2,193,750 Retained earnings                           12,309,375 Sales                           21,937,500 Selling and administrative expenses                                219,375 Supplies                             1,974,375 Unearned revenue                             2,998,125   STANLEY’S net income for the year ending December 31, 2027 is