LN Consulting is a calendar year, cash basis unincorporated business. The business is not required to provide audited financial statements to any external user. LN's accounting records show the following: LN's records reveal the following facts: - In December, the bookkeeper prepaid \$1,500 interest on a business debt. This interest is related to the next taxable year. - LN disposed of two assets during the year. It exchanged computer equipment for office furniture. (These assets are not like-kind for federal tax purposes.) The original cost of the computer equipment was $13,000, and accumulated MACRS depreciation through date of exchange was $9,700. The office furniture has a $6,000FMV. It sold 1,200 shares in a mutual fund for $18,000. LN purchased the shares as a short-term investment of excess working capital. The cost of the shores was $16,600. - An electrical fire completely destroyed a company car. The adjusted basis of the car was $9,100, and LN's property insurance company paid $7,000 in complete settiement of its damage claim. LN used the insurance money to pay varlous operating expenses. - MACRS depreclation for assets placed in service in prior years (including the computer equipment and company car) is $4,600. The only asset acquired this year (in addition to the office furniture) was office equlpment costing $8,300. The equipment was placed in service on August 19. Required: Based on these facts, compute the taxable income generated by LN Consulting's activities, before ony 20 percent (OB) decuction that might be avaliable to LN's owners