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:
$$\begin{array} { l c c } & \text { Assets } & { \text { Liabilities } } \\\text { Beginning of the year } & \$ 114,000 & \$ 6 8 , 0 0 0\\\text { End of the year } & 135,000 & 73,000\end{array}$$
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?