Mr. Ting's net cash inflow from operating activities for the year ending 30 June is$123,000. The following adjustments were included in the supplementary schedule reconciling cash flow from operating activities with net income: Depreciation $38,000 Increase in net accounts receivable 31,000 Decrease inventory 27,000 Increase in accounts payable 48,000 Increase in interest payable 12,000 Net income is ______.