Presented below are selected ledger accounts of Bill Corporation as of December 31, 2020.

Cash $54,000

Administrative expenses $108,000

Selling expenses $86,400

Net sales $583,200

Cost of goods sold $226,800

Cash dividends declared (2020) $21,600

Cash dividends paid (2020) $16,200

Discontinued operations (loss before income taxes) $43,200

Depreciation expense, not recoreded in 2019 $32,400

Retained earnings, December 31, 2019 $97,200

Effective tax rate 20%

Compute net income for 2020. Net income $___________

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