Daniels Company reports the following year-end account balances at December 31, 2017. Accounts payable $20,000 Inventory $40,000 Accounts receivable $40,000 Land $100,000 Bonds payable, long-term $250,000 Goodwill $10,000 Buildings $160,000 Retained earnings $115,000 Cash $50,000 Sales revenue $500,000 Common stock $100,000 Supplies inventory $5,000 Cost of goods sold $200,000 Supplies expense $20,000 Equipment $80,000 Wages expense $100,000 What is Daniels' net income for 2017?