Swift Public Relations Services (SPRS) reports $380,000 of revenue and $275,000 of operating expense for the twelve month's ended 12/31/2019 before considering the below 3 situations.

(a) On Sept 1, 2019 SPRS collected $24,000 from a customer for a future consulting job. SPRS deposited the funds at the bank on Sept. 1 and when recording the deposit the company credited Consulting Services Earned. No additional entries have been made, and as of 12/31/2019 SPRS has performed 1/3 of the services related to this customer contract.

(b) On Sept. 1, 2019 SPRS borrowed $180,000 at 6% with all the principal and interest for the 5-month loan due on February 1, 2020. SPRS recorded the borrowing on 9/1/2019 but has made no additional entries.

(c) SPRS has 5 employees that earn a total of $1,100 in salaries each working day (i.e. $220 per employee per day). Employees get paid holidays and never incur overtime. Employees are paid each Monday for the five-day workweek ending the previous Friday. On Monday, January 6th the company paid $5,500 of wages for the prior week services.

What value will SPRS report as Net Income on the company's 12/31/2019 income statement?