During the course of your examination of the financial statements of Trojan Corporation for the year ended December $31,2026,$ you come across several items needing further consideration. Currently, net income is $$84,000.$

An insurance policy covering $12$ months was purchased on October $1,2026,$ for $$14,400.$ The entire amount was recorded in Prepaid Insurance, and no adjustment was made for this item during $2026.$

During $2026,$ the company received a $$2,400$ cash advance from a customer for services to be performed in $2027.$ The $$2,400$ was incorrectly recorded in Service Revenue.

Purchases of supplies during the year were incorrectly recorded to Supplies Expense. You discover that supplies costing $$1,950$ were on hand on December $31,2026.$

Trojan borrowed $$54,000$ from a local bank on September $1,2026.$ Principal and interest at $9\%$ will be paid on August $31,2027.$ No accrual was made for interest in $2026.$

Required:

Using the information in $1$ through $4$ above, determine the proper amount of net income as of December $31,2026.$

Note: Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.