The following accounts were taken from Nelson Companys unadjusted trial balance at December 31, 2025: Accounts payable ............ $56,000 Accounts receivable ......... $60,000 Advertising expense ......... $25,000 Building .................... $68,000 Cash ........................ $32,000 Common stock ................ $77,000 Cost of goods sold .......... $43,000 Income tax expense .......... $18,000 Inventory ................... $47,000 Land ........................ $63,000 Notes payable ............... $54,000 Patent ...................... $31,000 Rental revenue .............. $52,000 Retained earnings ........... $35,000 (at January 1, 2025) Sales revenue ............... $84,000 Unearned revenue ............ $29,000 Nelson Company has not yet recorded adjusting entries related to the following two items: (1) The unearned revenue relates to a $29,000 payment from a customer received on October 1, 2025 for services to be performed each month for the next eight months. (2) The note payable was a bank loan taken out on May 1, 2025. It is a 9-month, 4% loan. Calculate the net income reported by Nelson Company for 2025 after the appropriate adjusting entries have been recorded and posted.