The Pitt and Jolie partnership agreement stipulates that profits and losses will be shared equally after salary allowances of $32,000 for Pitt and $48,000 for Jolie and 10% interest allowance on capital balances at the beginning of the year. Each partner had a beginning capital balance of $80,000. If the net income for the year is $120,000, what is Pitt’s share of the net income?