(Answered) Question during its first year of operations silverman

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Question: During its first year of operations, Silverman Company paid $11,860 for direct materials and $10,900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,900 while general, selling, and administrative expenses totaled $3,600. The company produced 7,100 units and sold 4,400 units at a price of $7.10 a unit. What was Silverman's net income for the first year in operation? (Do not round intermediate calculations.)

$7,400

$27,640

$21,340

$8,480

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