Stosch Company's balance sheet reported assets of $107,000, liabilities of $28,000 and common stock of $25,000 as of December 31, 2015. If Retained Earnings on the December 31, 2016 balance sheet is $70,000 and Stosch paid a $27,000 dividend during 2016, then the amount of net income for 2016 was which of the following? $16,000 $54,000 $27,000 $43,000