Atlas, a financial consultant, had the following income and expenses in his business:

Fee Income

$232,700

Expenses:

Rent Expense

17,500

Penalties assessed by the SEC

2,800

Office expenses

5,800

Supplies

6,000

Interest paid on note used to acquire office equipment

2,900

Speeding tickets going to see clients

700

How much net income must Atlas report from this business?