Silver Star Mountain Resort is a ski resort northeast of Vernon in British Columbia. Besides maintaining well$-$groomed ski runs, the company sells lift tickets, ski lessons, and ski equipment. It operates several restaurants and rents townhouses to vacationing skiers. The following hypothetical December transactions are typical of those that occur at the resort.

Borrowed $$640,000$ from the bank on December $1,$ signing a note payable due in six months.

Purchased a new snowplow for $$34,000$ cash on December $31.$

Purchased ski supplies for $$17,000$ on account.

Incurred $$36,000$ in routine maintenance expenses for the chairlifts; paid cash.

Received $$100,000$ for season passes $($beginning in the new year$).$

Sold daily lift passes this month for a total of $$104,000$ cash.

Received a $$460$ deposit on a townhouse to be rented for five days in January.

Paid half the charges incurred on account in $($c$).$

Paid $$20,800$ in wages to employees for the month of December. Calculate the company$$s preliminary net income.