The operating cash flows and balance sheet excerpts of Schlee and Associates for the period ending December 31, 2018, follow. Compute net income for the period ending December 31, 2018.

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OPERATING ACTIVITIES $ 65,000 Cash inflows from sales $(40,000) Cash payments for inventories Cash payments for salaries and wages (6,000) Cash payments for advertising (1,000) $ 18,000 Cash provided (used) by operating activities BALANCE SHEET EXCERPTS 2018 2017 $ 3,000 $ 9,000 Accounts receivable Unearned revenues 4,000 1,000 Inventory 18,000 10,000 Accounts payable 7,000 3,000 Salaries and wages payable 2,100 1,300 Prepaid advertising 5,000 8,000 Accumulated depreciation 8,000 5,000