Determine preliminary net income

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Determine Preliminary net income. Here is the info:

Quick Cleaners, Inc., (QCI) has been in business for several years. It specializes in cleaning houses, but has some small business clients as well.

a. Issued $26,000 of QCI stock for cash.

b. Incurred $995 of utilities costs this month and will pay them next month.

c. Paid wages for the current month, totaling $2,100.

d. Performed cleaning services on account worth $3,450.

e. Some of Quick Cleaners’ equipment was repaired at a total cost of $272. The company paid the full amount immediately.

Reference no: EM13746386

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