How do I figure out net income: Here is the information I have

December 2011

Assets 41,000
Liabilities 27,500

During 2011

Owner Investment 1,500
Net Income ?
Owner cash withdrawals 3,000

Thank you in advance for any/all help!

You will need information from 2010 to answer this because you need equity.

The formula is: Assets = Liabilities + Equity
Which can be rewritten as:
Equity = Assets - Liabilities

So find your equity for 2010 and 2011

The formula for equity is:

Ending Equity = Beginning Equity + Stock Issuances + Net Income - Cash Dividends
Which can be rewritten as:
Net Income = Ending Equity - Beginning Equity - Stock Issuances + Cash Dividends