An organisation has sales of $825,000 over the fiscal year to June 30th 20XX. Cost of goods sold was $260,000 and administrative and sales expense was $180,000. Depreciation was calculated at $65,000. Interest earnings were $15,000 and interest paid on loans was $35,000. The organisation is based in Australia. What is the Net Income for the Year Ending June 30th 20XX?