During the course of your examination of the financial statements of the Hales Corporation for the year ended December $31,2024,$ you discover net income in $2024$ is $$34,000$ but no adjusting entries have been prepared. To prepare adjusting entries, you discover the following items:

a$.$ An insurance policy covering three years was purchased on January $1,2024,$ for $$4,500.$ The entire amount was debited to insurance expense.

b$.$ During $2024,$ the company received a $$700$ cash advance from a customer for services to be provided in $2025.$ The $$700$ was credited to sales revenue.

c$.$ All purchases of supplies were debited immediately to supplies expense. However, you discover that supplies costing $$680$ were on hand on December $31.$

d$.$ Hales borrowed $$18,000$ from a local bank on October $1,2024.$ Principal and interest at $12\%$ will be paid on September $30,2025.$ No accrual was recorded for interest.

Required:

Determine the proper amount of net income for $2024.$

Note: Amounts to be deducted should be indicated by a minus sign.