Total Company began operations in $2025$ and entered into

the following transactions during the yea $r$ :

On May $1,$ Total Company sold common st ock to owners for $$200,000$ cash.

On May $10,$ Total Company purchased inv entory costing $$40,000$ on account.

On June $1,$ Total Company purchased equ ipment for $$54,000$ cash. The equipment was assign ed an $8-$year

life and a $$6,000$ residual value.

On September $1,$ Total Company purchase d a two$-$year insurance policy for $$27,000$ cash.

On October $9,$ Total Company sold one$-$h alf of the inventory that they purchased on May $10$ to a customer for $$49,000$; the customer did not pay for the goods, but agreed to pay Total Company within ninety days.

On November $17,$ Total Company paid $$10,000$ cash

to its stockholders as a dividend.

On December $17,$ Total Company collecte d a $$22,000$

partial payment from the customer who purchased the inventory on October $9.$

On December $31,$ Total Company recorded the adjusting

entries related to the equipment and $t$ he prepaid insurance.

Calculate the amount of net income reporte d in Total

Company's $2025$ income statement after all of the above

transactions have been recorded and poste