Reference no: EM132234184
Question - Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred:
1. Jackson invested $42,000 cash in the business in exchange for common stock.
2. Jackson contributed $117,000 of equipment to the business.
3. The company paid $3,700 cash to rent office space for the month of March.
4. The company received $33,000 cash for repair services provided during March.
5. The company paid $7,900 for salaries for the month of March.
6. The company provided $4,700 of services to customers on account.
7. The company paid cash of $2,200 for utilities for the month of March.
8. The company received $4,800 cash in advance from a customer for repair services to be provided in April.
9. The company paid $6,700 in cash dividends.
Based on this information, calculate the net income for March?
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