A small business has the following information for the month of January:

Beginning Cash Balance: $10,000
Cash Sales: $8,000
Credit Sales: $12,000
Accounts Receivable Collected: $11,000
Inventory Purchased on Credit: $6,000
Accounts Payable Paid: $5,000
Rent Expense: $2,000
Wages Expense: $4,000
Calculate the business's net income and ending balance of cash for the month of January.

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