The following information relates to Saxa Company's operations:

Saxa Company collected $10,000 cash from customers in March for sales that occurred in February.

Saxa Company sold $2,500 of goods in March and the cost of goods sold is $1,250. Saxa collected $2,000 in cash from these sales in March and $1,300 in April.

Saxa Company sold a one-year service contract to a customer for $12,000 cash on March 1. The service contract starts on March 1. No costs have incurred to service this contract in March.

On March 1, Saxa Company signed a six-month contract with a customer to provide $6,000 of services beginning May 1. The customer paid half of the contract amount on this date.

What is Saxa Co!'s March net income using an accrual-basis accounting system?