Bantam company calculated its net income to be $38,775 based on the unadjusted trial balance. The following adjusting entries were then made for:

Salaries and wages owed but not yet paid of $395.
Interest earned but not received from investments of $375.
Prepaid insurance premiums amounting to $275 have expired.
Unearned revenue in the amount of $805 has now been earned.

Required:
Determine the amount of net income (loss) that will be reported after the adjustments are recorded.