Alpha Ltd$.$ had the following information for the year $2020$:

Cash balance, Jan $1$ $ $123,000$ Total assets, Dec $31$ $ $101,000$

Accounts receivable, Jan $119,000$ Cash balance, Dec $3120,000$ Collections from customers $200,000$ Accounts receivable, Dec $3136,000$ Retained earnings, Jan $138,000$ Dividends paid during year $11,000$ Total assets, Jan $175,000$ Total liabilities, Dec $3141,000$ Issued common shares for cash $5,000$ Share capital, Jan $110,000$

Required: Calculate the net income for $2020.$