X Company, a merchandiser, prepares monthly financial statements. On September 30, its accountant made adjusting entries to record:

• $5,574 of September interest on a bank loan to be paid in October
• $1,583 of wages that were earned by employees in September but to be paid in October
• $4,587 of rent and insurance for September that was prepaid on September 1 but had expired
• $3,869 of depreciation on factory equipment
• a $2,770 September utility bill received in September, to be paid in October

What would be the effect of these entries on Net Income in September?