Fill in the blank: Assuming the local John Deere's operates on a calendar year$-$end under the$$accrual method and prefers to defer income whenver possible, the amount of net profit $($loss$)$ for tax purposes in Year $1$ was $$\_\_\_\_\_\_\_.$ Reminder: If the amount represents net profit, this is entered as a positive value $($e$.$g$.$ syntax: a $$5,000$ net profit amount should be entered as $5000)$ whereas if the amount represents a net loss this is entered as a negative value $($e$.$g$.$ syntax: a $$5,000$ net loss amount should be entered as $-5000).$ John Deere is operated as a C corporation. The company received an order for a $\backslash (\backslash$$ $12,000\backslash )$ tractor from a customer on June $30,$ Year $1$ and delivered the tractor to the customer on July $31,$ Year $1.$ The company sent the customer a bill saying they had to pay for the tractor by no later than January $31,$ Year $2.$ John Deere uses a calendar year tax period. Based on phone calls with the customer in December of Year $1,$ the customer explained that it may have to file bankruptcy proceedings but was trying to work its way out of financial hardship before taking that option. The customer said that at worst it would be able to pay at least $\backslash$$$9,000$ of the bill. On January $15,$ Year $2,$ John Deere received a check from the customer for $\backslash (\backslash$$ $9,000\backslash )$ and was informed it would receive no additional payment based on the outcome of the bankruptcy case. In addition to the transaction above, the following occurred:

$-$ A different customer paid for the same type of tractor $($at $\backslash$$$12,000)$ on November $1,$ Year $1$ and scheduled delivery for January $15,$ Year $2.$ John Deere included the income in its Year $1$ financial accounting statements.

$-$ The company both incurred and paid expenses for the following in Year $1$:

$-$ The company both incurred and paid expenses for the following in Year $2$:

Fill in the blank: Assuming the local John Deere's operates on a calendar year$-$end under the accrual method and prefers to defer income whenver possible, the amount of net profit $($loss$)$ for tax purposes in Year $1$ was $\backslash$$ $.$ Reminder: If the amount represents net profit, this is entered as a positive value $($e$.$g$.$ syntax: a $\backslash$$$5,000$ net profit amount should be entered as $5000)$ whereas if the amount represents a net loss this is entered as a negative value $($e$.$g$.$ syntax: a $\backslash$$$5,000$ net loss amount should be entered as $-5000).$