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

Cash		$55,000
Administrative expenses		110,000
Selling expenses		88,000
Net sales		594,000
Cost of goods sold		231,000
Cash dividends declared (2020)		22,000
Cash dividends paid (2020)		16,500
Discontinued operations (loss before income taxes)		44,000
Depreciation expense, not recorded in 2019		33,000
Retained earnings, December 31, 2019		99,000
Effective tax rate 20%

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Compute net income for 2020.

Net income

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