W.C. Cycling had $72,000 of cash at year-end 2011 and $18,000 in cash at year-end 2012. The firm invested in property, plant, and equipment totaling $290,000. Cash flow from financing activities totaled +$190,000. If accruals increased by $25,000, receivables and inventories increased by $50,000, and depreciation and amortization totaled $63,000, what was the firm's net income?