The following data pertains to Sultan. Total assets at January 1, 2014, were $317000; at December 31, 2014, total assets were $387000. During 2014, sales were $1072000; dividends were $19000; and operating expenses (exclusive of cost of goods sold) were $610000. Total liabilities at December 31, 2014, were $178000; at January 1, 2014, total liabilities were $180000. There were no additional capital investments by Sultan during 2014. What was net income for 2014?

Round your answer to the nearest amount. Do not include any dollar signs, commas, decimal places and/or spaces in your answer. Your answer should only include digits. For example, if the correct answer is 1021, you should enter 1021 as your answer. If you enter $1021 or 1,021 or 1 021 or $1021.00, your answer will be marked wrong.

Answer:

448000

(91000)