Presented below are selected ledger accounts of Bonita Corporation as of December 31, 2025. Cash $48,000 Administrative expenses 96,000 Selling expenses 76,800 Net sales 518,400 Cost of goods sold 201,600 Cash dividends declared (2025) 19,200 Cash dividends paid (2025) 14,400 Discontinued operations (loss before income taxes) 38,400 Depreciation expense, not recorded in 2024 28,800 Retained earnings, December 31, 2024 86,400 Effective tax rate 20% (a) Your answer is incorrect. Compute net income for 2025. Net income $