Golden enterprises started the year with the following: Assets $50,000, liabilities $15,000, Common stock $30,000, Retained earnings $5,000. During the year, the company earned a revenue of $2,500, all of which was received in cash and incurred expenses of $1,500, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $500 to owners. Assume no other activities occurred during the year. The amount of Golden's net income for the year is