A taxpayer has the following financial results for a particular year:

Business profit—A Enterprise…………….........………….           $10,000

Business loss—B Enterprise………….............……………….           3,000

Other sources of income—pension...………....……………….     12,000

Property income—interest ……………….….........…….                  5,000

Allowable capital losses on sale of land …..…..………             20,000

Allowable business investment loss………..........……………….   2,000

Taxable capital gains on sale of securities…..….…………       15,000

Other deductions—alimony payments (spousal support).. 3,000

Employment income………………………...............……………       30,000

Required:

Determine the taxpayer’s net income for tax purposes in accordance with the statutory scheme formula.