The Amato Theater is nearing the end of the year and is preparing for a meeting with its bankers to discuss the renewal of a loan. The accounts listed below appeared in the December 31, 2014, trial balance.

Debit	Credit
Prepaid Advertising	$	6,030
Equipment	219,200
Accumulated Depreciation-Equipment	$	62,200
Notes Payable	84,720
Unearned Service Revenue	16,000
Ticket Revenue	351,100
Advertising Expense	18,020
Salaries and Wages Expense	66,920
Interest Expense	1,210

Additional information is available as follows.

1. The equipment has an estimated useful life of 16 years and a salvage value of $46,400 at the end of that time. Amato uses the straight-line method for depreciation.

2. The note payable is a one-year note given to the bank January 31 and bearing interest at 10%. Interest is calculated on a monthly basis.

3. Late in December 2014, the theater sold 320 coupon ticket books at $50 each. 120 of these ticket books can be used only for admission any time after January 1, 2015. The cash received was recorded as Unearned Service Revenue.

4. Advertising paid in advance was $6,030 and was debited to Prepaid Advertising. The company has used $2,720 of the advertising as of December 31, 2014.

5.Salaries and wages accrued but unpaid at December 31, 2014, were $3,460.

Determine Amatos income before and after recording the adjusting entries.

Income before Adjustments	Income after Adjustments
	$	$
AddLess:
DividendsExpensesNet Income / (Loss)RevenuesTotal ExpensesTotal Revenues	$	$