Presented below are selected ledger accounts of Kingbird Corporation as of December 31, 2025. Cash Administrative expenses Selling expenses $60,000 120,000 96,000 Net sales 648,000 Cost of goods sold 252,000 Cash dividends declared (2025) 24,000 Cash dividends paid (2025) 18,000 Discontinued operations (loss before income taxes) 48,000 Depreciation expense, not recorded in 2024 36,000 Retained earnings, December 31, 2024 108,000 Effective tax rate 20% (a) Compute net income for 2025. Net income $