ZZ Company's December 31, 2024 unadjusted trial balance reported the following accounts: Accounts Payable ............ $42,000 Accounts Receivable ......... $39,000 Cash ........................ $25,000 Common Stock ................ $77,000 Cost of Goods Sold .......... $58,000 Income Tax Expense .......... $12,000 Interest Expense ............ $14,000 Inventory ................... $70,000 Investment Revenue .......... $53,000 Land ........................ $68,000 Mortgage Payable ............ $43,000 Patent ...................... $31,000 Prepaid Insurance ........... $26,000 Retained Earnings ........... $52,000 (at January 1, 2024) Sales Revenue ............... $95,000 Unearned Revenue ............ $19,000 Wage Expense ................ $38,000 ZZ Company has not yet recorded an adjusting entry to account for $11,000 of prepaid insurance that was used up during the year. Calculate the amount of net income that ZZ Company would report in its 2024 income statement after the appropriate adjusting entry is made for the prepaid insurance.