Huntington Corporation
Presented Below Are All of the Items from Huntington

Huntington Corporation
Presented below are all of the items from Huntington Corporation's income statement for the years ending December 31, 2018 and 2017.

$\begin{array}{lrr}&\text { December 31, } 2018 & \text { December 31, } 2017\\\text { Service fees } & \$ 2,300,000 & \$ 2,100,000 \\\text { General and administrative expenses } & 1,900,000 & 1,500,000 \\\text { Other income, net } & 40,000 & 20,000 \\\text { Income taxes } & 150,000 & 180,000\end{array}$
-Read the information about Huntington Corporation.
Required
How much is net income for the year ended December 31,2018? If Huntington Corporation had used a single-step statement,by how much would net income be different? Explain.