On January 1^st, 2016 The TI Magazine Company enters into 4 transactions : 1.) They sell magazine subscriptions totaling $ 18,000 . The subscriptions run for the 3 year period January 1, 2016- December 31, 2018 2.) They pay a total of $ 6,000 for 2 years of rent in advance on their offices 3.) They buy an office copier for $ 5000 that they determine has a 5 year life 4.) They buy $ 2,000 of office supplies. At December 31, 2016 there is $1,500 of supplies remaining and they didnt buy any additional supplies during 2016. If these were the only transactions for TI what was TIs 2016 net income ?