Before Month-End Adjustments Are Made, the February 28 Trial Balance $\bullet$

Essay

Before month-end adjustments are made, the February 28 trial balance of Alice's Adventures contains revenue of $7,000 and expenses of $3,900. Adjustments are necessary for the following items:
$\bullet$ Depreciation for February is $1,500.
$\bullet$ Revenue earned but not yet billed is $2,300.
$\bullet$ Accrued interest expense is $700.
$\bullet$ Revenue collected in advance that is now earned is $3,500.
$\bullet$ Portion of prepaid insurance expired during February is $600.
Instructions
Calculate the correct net income for Alice's Income Statement for February.