Presented below are selected ledger accounts of Blossom Corporation as of December 31, 2020. Cash Administrative expenses $62.000 124,000 Selling expenses 99,200 Net sales 669,600 Cost of goods sold 260,400 Cash dividends declared (2020) 24,800 Cash dividends paid (2020) 18.600 Discontinued operations (loss before income taxes) 49,600 Depreciation expense, not recorded in 2019 37,200 Retained earnings, December 31, 2019 111.600 Effective tax rate 20% (a) Compute net income for 2020 Net income $