During the course of your examination of the financial statements of the Hales Corporation for the year ended December 31, 2024, you discover net income in 2024 is $30,000 but no adjusting entries have been prepared. To prepare adjusting entries, you discover the following items:
a. An insurance policy covering three years was purchased on January 1, 2024, for $6,000. The entire amount was debited to insurance expense.
b. During 2024, the company received a $1,000 cash advance from a customer for services to be provided 2025. The $1,000 was  credited to sales revenue.
c. All purchases of supplies were debited immediately to supplies expense. However, you discover that supplies costing $750 were on hand on December 31.
d. Hales borrowed $20,000 from a local bank on October 1, 2024. Principal and interest at 12% will be paid on September 30, 2025. No accrual was recorded for interest.

Required:
Determine the proper amount of net income for 2024.