Yolanda is a cash basis taxpayer with the following transactions during the year:

Cash received from sales of products $70,000 Cash paid for expenses (except rent and interest) 40,000 Rent prepaid on a leased building for 18 months 48,600 beginning December 1 Prepaid interest on a bank loan, paid on 5,000 December 31 for the next 3 months Calculate Yolanda’s income from her business for this calendar year.
Sales income $
Expenses:
Other than rent and interest $
Rent $
Interest $
Net income $