The balance sheet for Pitchfork Company at December 31, 2011 indicated that total assets were $100,000 and total liabilities were $36,500.At December 31, 2012 total assets had increased to $141,000 and total liabilities were $53,700.During 2012, Sparky issued $20,000 in new common stock and paid an $18,000 dividend. There were no other changes in equity other than Net Income for 2012.

Given this information, determine Net Income for the year ended December 31, 2012 (ignore taxes):