Presented below are the information taken from the books of Four Sisters Company:

2018 2019

Sales:

Regular 125, 000 187, 500

Installment 62, 500 100, 000

Cost of goods sold:

Regular 75, 000 112, 500

Installment 31,250 45, 000

Operating expenses 25, 000 31, 250

Collections on accounts from:

Regular sales 100, 000 137, 500

Installment sales 2018 37, 500 25, 000

Installment sales 2019 62, 500

1. What is the net income for the year ended December 31, 2018?

2. What is the net income for the year ended December 31, 2019?