What is the amount of net income for the year?

\begin{tabular}{lrr} & Debit & Credit \\ a. Interest revenue & $16,000 \\ b. Depreciation expense-Equipment & $36,000 & \\ c. Loss on sale of equipment & 27,850 & \\ d. Accounts payable & 108,400 & 46,000 \\ e. Other operating expenses & & 73,600 \\ f. Accumulated depreciation-Equipment & 46,000 \\ g. Gain from settlement of lawsuit & 178,500 \\ h. Accumulated depreciation-Buildings & \\ i. Loss from operating a discontinued segment (pretax) & 31,120 \\ j. Gain on insurance recovery of tornado damage & 1,018,500 \\ k. Net sales & 54,000 \\ l. Depreciation expense-Buildings & 18,000 & \\ m. Correction of overstatement of prior year's sales (pretax) & 44,000 \\ n. Gain on sale of discontinued segment's assets (pretax) & 25,750 \\ .. Loss from settlement of lawsuit & ? \\ p. Income tax expense & 502,500 & \\ q. Cost of goods sold & \end{tabular}