For the following accounting records ending on 12/31/2016: Selling, general and Admin expenses: $61,200 Accounts Payable: $102,000 Research and Development expenses: $44,400 Loss from Discontinued Operations, (net tax savings of $6,000): $19,200 Provision for income taxes: $88,800 Net Sales: $694,800 Interest Expense: $76,800 Net cash provided by Operations: $177,600 Cost of Goods Sold: $326,400. Question: Calculate the company's net income for 2016. Thanks