Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow.

		Debit			Credit
a.	Interest revenue				$	14,000
b.	Depreciation expenseEquipment	$	34,000
c.	Loss on sale of equipment		25,850
d.	Accounts payable					44,000
e.	Other operating expenses		106,400
f.	Accumulated depreciationEquipment					71,600
g.	Gain from settlement of lawsuit					44,000
h.	Accumulated depreciationBuildings					174,500
i.	Loss from operating a discontinued segment (pretax)		18,250
j.	Gain on insurance recovery of tornado damage					20,000
k.	Net sales					998,000
l.	Depreciation expenseBuildings		52,000
m.	Correction of overstatement of prior years sales (pretax)		16,000
n.	Gain on sale of discontinued segments assets (pretax)					34,000
o.	Loss from settlement of lawsuit		23,250
p.	Income tax expense		?
q.	Cost of goods sold		482,500

4. What is the amount of net income for the year?