The balance sheet for Pitchfork Company at December 31, 20X1 indicated that total assets were $100,000 and total liabilities were $36,500. At December 31, 20X2 total assets had increased to $180,000 and total liabilities were $73,500. During 20X2, Sparky issued $25,000 in new common stock and paid an $18,000 dividend. There were no other changes in equity other than Net Income for 20X2.

Given this information, determine Net Income for the year ended December 31, 20x2 (ignore taxes): *When recording your answer, do not use any symbols like dollar signs $ or commas. Example: if your answer is $7,500, you would enter it as 7500. Use this format for all fill in the blank responses