come across several items needing further consideration Currently, net income is $93,000 1 An insurance policy covering 12 months was purchased on October 1, 2021, for $19.800. The entire amount was debited to Prepaid Insurance and no adjusting entry was made for this item in 2021. 2. During 2021, the company received a $3,300 cash advance from a customer for services to be performed in 2022. The $3,300 was Incorrectly credited to Service Revenue 3. There were no supplies listed in the balance sheet under assets. However, you discover that supplies costing $2,400 were on hand at December 31, 2021 4. Trojan borrowed 563.000 from a local bank on September 1, 2021. Principal and interest at 12% will be paid on August 31, 2022. No accrual was made for interest in 2021 Required: Using the information in through 4 above, determine the proper amount of net income as of December 31, 2021 (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) S 93.000 Net income (unadjusted 1. Adjustment for insurance 2. Adjustment for deferred revenue 3. Adjustment for supplies 4 Adjustment for interest Not income adjusted) Oro 5 of 16 Next >