Hi,
I am taking an accounting class and have to do a multiple-income statement and my net income is short by $23,800.
The Net income should be $391,300, however, my net income is $367,500. Where am I going wrong?

Here are the financial details for the year 2006:
Accounts payable $874,200
Accounts receivable 1,000,800
Accumulated depriciation-Euipment 1,560,000
Admin expenses 420,000
Bonds payable 3,300,000
Cash 165,000
Common stock 165,000
Cost of Goods sold 2,285,000
Dividends 250,000
Equipment 5,894,000
Gain on the sale of land 87,000
Interest expense 108,000
Interest revenue 99,000
Inventories 984,000
Marketable securities (short-term) 1,175,000
Net sales 3,590,000
Notes payable (short-term) 1,136,500
Other long-term debt 401,300
Patents and other tangible 1,150,100
Prepaid expenses 356,100
Retained earnings (January 1, 2006) 877,200
Selling expenses 361,000
Taxes payable 234,500

I have spent hours trying to find the difference but am now totally lost. Any help you cam provide by 4pm Central Time, will be greatly appreciated....

Thank you.