Matrix Human Resource Solutions had total assets of $$850,000$ and total shareholders$$ equity of $$550,000$ at the beginning of the year.

During the year, total assets increased by $$150,000,$ total liabilities increased by $$200,000,$ and dividends were declared and paid in the amount of $$200,000.$ No other transactions occurred except revenues and expenses.

Required: Calculate net income for the year.