Smallville Bank has the following balance sheet, rates eamed on its assets, and rates paid on its liabilities Balance Sheet (in thousands) Assets Rate Earned (%) Cash and due from banks $6.700 Investment securities 20.000 9 Repurchase agreements 10,000 7 Loans less allowance for losses 87.000 11 Fixed assets 17,000 0 other earning assets 5,300 10 Total assets $164,000 Liabilities and Equity Rate Paid () Demand deposits $ 16,000 NOW accounts 76,000 6 Retail CDs 25,000 B Subordinated debentures 21,000 9 Total liabilities 138,000 Comnon stock 17.000 Paid-in capital surplus 3,700 Retained earnings 5,300 Total liabilities and equity $164,000 If the bank earns $127,000 in noninterest income, incurs $87.000 in noninterest expenses, and pays $2.570,000 in taxes, what is its net income? (Enter your answer in dollars, not thousands of dollars.) Net income