Answer:
Wayman Corporation's Net Income for the year ended December 31, 2018 is $64,000. 
Solution in excel file is also attached for your reference.
Explanation:
                                                  Wayman Corporation  
                         Income Statement for the year ended Dec 31, 2018  
  
Sales Revenue                                                      $348,000  
Less: Cost of Goods Sold                                      $124,000  
Gross Profit                                                               $224,000    
Less Expenses:    
 Operating Expenses  
  Selling Expenses  
    Salaries Expense                      $34,000  
    Advertising Expense                      $24,000  
   Total Selling Expenses              $58,000    
  General & Admin Expenses  
    Utilities Expense                      $44,000  
   Total General & Admin Expenses   $44,000  
  
  Total Operating Expenses                                     $102,000    
Income from Operations                                     $122,000    
Other Expenses  
Interest Expense                                                     $14,000    
Income before income taxes                              $108,000    
Less: Income Tax Expense                                     $44,000    
Net Income                                                              $64,000