Crane Industries collected $104,000 from customers in 2020. Of the amount collected, $24,100 was for services performed in 2019. In addition, Crane performed services worth $38,100 in 2020, which will not be collected until 2021. Crane Industries also paid $70,500 for expenses in 2020. Of the amount paid, $29,000 was for expenses incurred on account in 2019. In addition, Crane incurred $42,000 of expenses in 2020, which will not be paid until 2021. Compute 2020 accrual-basis net income.