A company reported the following asset and liability balances at the end of 2013 and 2014:

	2013	2014
Total Assets	6,680,000	7,420,000
Total Liabilities	3,420,000	3,820,000

During 2014, cash dividends of $60,000 were declared and paid, and common stock was issued for $200,000. How much was the 2014 net income?