Blue Spruce Corp. is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2017.

Service revenue (from camping fees)		$187,440		Dividends		$12,780
Sales revenue (from general store)		35,500		Notes payable		71,000
Accounts payable		15,620		Expenses during 2017		178,920
Cash		12,070		Supplies		7,810
Equipment		161,880		Common stock		56,800
				Retained earnings (1/1/2017)		7,100

Determine Blue Spruce Corp.s net income for 2017.