Al Company began operations on May $19,2026$ by selling

common stock to owners in exchange for $$250,000$ cash.

Al Company entered into the following transactions

during $2026$ and $2027$:

$2026$:

May $24$: Purchased inventory for $$120,000$ cash

June $1$: Purchased a $2-$year insurance policy for

$$36,000$ cash

July $1$: Received $$42,000$ cash from a customer for

services to be performed over the next $15$

months

July $9$: Purchased land for $$49,000$ cash

Aug $1$: Borrowed $$33,000$ from the bank on a $10\%,$

$11-$month note payable

Oct $26$: Sold $40\%$ of the inventory that was purchased

on May $24$ to a customer for $$97,000$ cash

$2027$:

Feb $18$: Sold the land purchased on July $9,2026$ for

$$31,000$ cash

May $1$: Borrowed $$45,000$ from the bank on art $8\%,$

$10-$month note payable

June $4$: Sold the remaining inventory that had been

purchased on May $24,2026$ to a customer for

$$119,000$ cash

July $1$: Paid off the bank loan that had been taken

out on August $1,2026$

Calculate the amount of net income reported by Al

Company for $2027.$