Jefferson Company began operations on June 1, 2023. The company entered into the following transactions during 2023: June 1: Sold common stock to owners in the amount of $362,000. June 1: Purchased a parcel of land costing $185,000 by paying $31,000 in cash and agreeing to pay the remainder within 90 days. July 31: Jefferson Company earned and received $42,000 of interest on its bank accounts in July. August 1: Jefferson sold the land purchased on June 1 for $200,000 cash. August 18: Purchased inventory costing $40,000 on account. November 2: Sold one-half of the inventory purchased on August 18 for $117,000. The customer did not pay any cash at the time of purchase, but did agree to pay the entire balance due within the next sixty days. November 30: Received and paid a $38,000 bill for advertising done during the month of November. Calculate the amount of net income reported in Jefferson Company's 2023 income statement