The following information has been provided by Water Company for the year ended December 31, 20X2:

Net income was $71,000;

Income tax expense was $47,000;

Dividends declared and paid totaled $7,500;

Interest expense was $8,700;

Loss on sale of plant assets was $15,000;

Operating expenses for rent, wages, and insurance totaled $91,000;

Cash collected from customers was $220,000.

What is Water's operating income?