The table presents balance sheet accounts for FEVMS. The company collected $165,000 cash from customers and borrowed $48,000 from South Hall Funding (SHF) on June 1, 2018 with interest payable on each anniversary of the note.

(2018) (2019)

Cash 32,000 86,400 Accounts Receivable 10,000 14,000 Accounts Payable 3,000 4,000 Inventory 21,000 23,500 5.8% Note Payable (SHF) - 48,000

Using the information given, what was 2019 net income for FEVMS on an accrual basis?