Presented below are selected ledger accounts of Tamarisk Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings. December 31, 2019 Effective tax rate 20% $55,000 110,000 88,000 594,000 231,000 22.000 16,500 44,000 33,000 99,000 (a) Compute net income for 2020. Net income $