During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2021, you come across several items needing further consideration. Currently, net income is $100,000. 1. An insurance policy covering 12 months was purchased on October 1, 2021, for $24,000. 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 $4,000 cash advance from a customer for services to be performed in 2022. The $4,000 was incorrectly credited to Service Revenue. 3. There were no supplies listed in the balance sheet under assets. However, you discover that supplies costing $2,750 were on hand at December 31, 2021. 4. Trojan borrowed $70,000 from a local bank on September 1, 2021. Principal and interest at 9% will be paid on August 31, 2022. No accrual was made for interest in 2021. Required: Using the information in 1 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.) $ Net income (unadjusted) 1. Adjustment for insurance 2. Adjustment for deferred revenue 3. Adjustment for supplies 4. Adjustment for interest Net income (adjusted) 100,000 (6,000) (4,000) 2,750 Required information (The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Credit Debit $10,000 15,000 7,200 4,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 3,000 11,000 6,000 51,200 35,000 $71,200 $71,200 At year-end, the following additional information is available: 1. The balance of Prepaid Rent, $7,200, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. 2. The balance of Deferred Revenue, $3,000, represents payment in advance from a customer. By the end of the year, $750 of the services have been provided. 3. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2022. 4. The balance of Supplies, $4,000, represents the amount of office supplies on hand at the beginning of the year of $1,700 plus an additional $2,300 purchased throughout 2021. By the end of 2021, only $800 of supplies remains