Geraldine is an accrual basis taxpayer who has the following transactions during the current claendar tax year:

Accured Business income (except rent) $220,000

Accrued business expenses (except rent) $170,000

Rental income on a building lease for the next 6 months, recieved on December 1 $21,000

Prepaid rent expense for 6 months, paid on December 1 $12,000

Calculate Geraldine's net income from her business for the current year.