Before making its year-end adjustments, the net income for Gannet Company was $80,000. Year-end adjusting entries are necessary for the following items:
1. Office supplies used up during the year totaled $3,200
2. Interest accrued to December 31 on note payable to the bank totaled $900
3. Services performed for clients but not yet collected totaled $2,600.
Calculate Gannet Company’s net income for the year after the necessary adjustments are made.