Bowen Company makes two products from a joint production process. Each product may be sold at the split-off point or processed further. Information concerning these products for last year appears below: Product X Product Y Allocated joint costs .................. $25,000 $17,000 Sales value after further processing ... $41,000 $47,000 Sales value at the split-off point ..... $29,000 $23,000 Additional processing costs ............ $19,000 $15,000 Assume Bowen Company makes all the correct sell or process further decisions. Calculate the net income reported by Bowen Company last year.