X Company has the following adjusted trial balance on December 31, 2020.

	Debit	Credit
Cash	10,000
Accounts Receivable	50,000
Allowance for Doubtful Accounts		5,000
Inventory	55,000
Equipment,	250,000
Accumulated Depreciation		50,000
Accounts Payable		35,000
Unearned Service Revenue		15,000
Common Stock		150,000
Retained Earnings		80,000
Dividends	20,000
Service Revenue		500,000
Salaries Expense	400,000
Depreciation Expense	10,000
Rent Expense	40,000
Total	835,000	835,000

Compute 2020 net income