Val's Hair Emporium operates a hair salon. Its unadjusted trial balance as of December 31, 2021, follows, along with information about selected accounts. Account Names Cash Supplies Prepaid Rent Accounts Payable Salaries and Wages Payable Income Tax Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Utilities Expense Rent Expense Supplies Expense Income Tax Expense Totals Debit $ 2,800 3,300 3,000 28,100 11, 200 10,000 3,800 0 $ 62,200 Credit This amount was paid November 1 for rent through the end of January. $1,000 This represents the total amount of bills received for supplies and utilities through December 15. Val estimates that the company has received $350 of utility services through December 31 for which it has not yet been billed. 0 Stylists have not yet been paid $100 for their work on December 31. Further Information As reported on December 31 bank statement. Based on count, only $800 of supplies still exist. 0 The company has paid last year's income taxes but not this year's taxes. This amount was contributed for common stock in prior years. This is the balance reported at the end of last year. 1,000 700 59,500 Customers pay cash when they receive services. $ 62,200 This is the cost of stylist wages through December 30. This is the cost of utilities through December 15. This year's rent was $1,000 per month. This is the cost of supplies used through November 30. The company has an average tax rate of 30%. . Calculate the adjusted net income that the company should report for the year ended December 31, 2021.