The Following Facts Pertain to the Stockholders' Equity Section of the Balance

The following facts pertain to the stockholders' equity section of the balance sheet of Vanalden Corporation:
$\begin{array}{lrr}&\text { December } 31,2010 &\text { December } 31,2009\\\text { Common Stock- } \$ 5 \text { par value } & \$ 55,000 & \$ 50,000 \\\text { Additional Paid-in Capital } & 32,000 & 30,000 \\\text { Retained Earnings } & 105,000 & 100,000\end{array}$ During 2010,Vanalden declared and distributed a stock dividend.Also during 2010,Vanalden declared and paid cash dividends of $10,000.There were no changes in the number of shares of stock issued and outstanding during the period except for the change caused by the stock dividend.Calculate the amount of net income reported by Vanalden for 2010.