Jay and Mike are equal partners in the LAN partnership, which was formed on January 2, 2010 when each contributed $10000 cash. Jay received a guaranteed payments during the year of $28,000. After payment of the guaranteed payments, the partnership operations resulted in a $20,000 profit. The LAN partnership had $15,000 in outstanding liabilities on December 31, 2010. Assuing there were no distributions to the partners, what total amount of income will Jaay report for 2010 as a result of his partnership interest?