Ventura Enterprises reported the following amounts on its balance sheet for Year $1$ and Year

$2$i

Year End

Assets

Liabilities

Year $1$

$$148,500$

$$70,500$

Shareholders' Equity

$$78,000$

Year $2$

$153,000$

$$53,500$

$99,500$

Ventura Enterprises distributed $$12,500$ of dividends in Year $2.$ No additional investments of capital were made in the company during Year $2.$ How much is net income for Year $2?$

$$38,000$

$$34,000$

$$47,000$

$$21,500$