Alvie Heating & Air experienced the following events during Year 2: Acquired $50,000 cash from the issue of common stock Paid $20,000 cash to purchase land Borrowed $40,000 cash Provided services for $60,000 cash Paid $12,000 cash for rent expense Paid $18,000 cash for other operating expenses Paid 10% interest on the Note Payable. Paid a $5,000 cash dividend to the stockholders Determined that the market value of the land purchased in Event 2 is now $16,500 The January 1, Year 2 account balances are $15,000 Cash, $10,000 Land and $25,000 Common Stock. What is Alvie's Net Income for Year 2? Do not enter dollar signs or commas in your answer.