ABC Corp. recorded service revenues of $200,000 in 2016, of which $80,000 were on credit and $120,000 were for cash. Moreover, of the $80,000 credit sales for 2016, ABC collected $20,000 cash on those receivables before year-end 2016. The company also paid $40,000 cash for 2016 wages. Its employees also earned another $25,000 in wages for 2016, which were not yet paid at year-end 2016. Compute the companys net operating income for 2016.