Assume that you are the owner $"$of Campus Connection, which specializes in items that interest students. At the end of January of the current year, you find $($for January only$)$ this information:

a$.$ Sales, per the cash register tapes, of $$119,000,$ plus one sale on credit $($a special situation$)$ of $$3,500.$

b$.$ With the help of a friend $($who majored in accounting$),$ you determine that all of the goods sold during January cost $$49,000$ to purchase.

c$.$ During the month, according to the checkbook, you paid $$39,000$ for salaries, rent, supplies, advertising, and other expenses; however, you have not yet paid the $$1,500$ monthly utilities for January.

Required:

On the basis of the data given $($disregard income taxes$),$ what was the amount of net income for January? $($Hint: A convenient form to use has the following major side captions: Revenues, Expenses, and the difference$-$Net Income.$)$

Net income