Paton Company's December 31 year-end financial statements contained the following errors:

An insurance premium of $54,000 was prepaid in 2017 covering the years 2017, 2018, and 2019. The prepayment was recorded with a debit to insurance expense. In addition, on December 31, 2018, fully depreciated machinery was sold for $28,500 cash, but the sale was not recorded until 2019. There were no other errors during 2018 or 2019 and no corrections have been made for any of the errors. Ignore income tax considerations.

The total net effect of the errors on Patons 2018 net income are that net income is