Jerry's Butcher Shop Had the Following Assets and Liabilities at the Beginning

Essay

Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
Assets Liabilities
Beginning of the year $114,000 $68,000
End of the year 135,000 73,000
If stockholders invested an additional $12,000 in the business during the year in exchange for common stock, but no dividends were paid during the year, what was the amount of net income earned by Jerry's Butcher Shop?