Presented below is certain information pertaining to Sandhill Company.

Assets, January 1		$ 254,800
Assets, December 31		233,200
Liabilities, January 1		154,800
Common stock, December 31		79,000
Retained earnings, December 31		41,100
Common stock sold during the year		11,700
Dividends declared during the year		12,700

Compute the net income for the year.

Net income

$