For the month of July, Blackfly Ltd$.$ experienced$/$recorded the following

transactions:

received a $$6000$ cash payment for work performed & billed the previous

month.

replanted an area of northern Alberta forest for which it sent out an invoice

totaling $$35000.$

At the beginning of the month, the company had $$2000$ of trees in inventory

ready for planting.

During the month the company purchased $$7000$ tress for planting

at the end of the month it was left with trees still suitable for planting that

originally cost $$2500.$

monthly expenses were: $$1500$ for office rent; $$3500$ in misc.

expenses;

Amortization on the truck and office equipment was calculated to be

$$1500$

The income tax rate is $10\%.$

Net Income for the month of July was