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Did the firm earn a net income

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Problem - On December 1, Doris Turner opened a speech and hearing clinic. During December, her firm had the following transaction involving revenue and expenses. Did the firm earn a net income or incur a net loss for the period? What was the amount?

Paid $2,600 for advertising.

Provided services for $2,300 in cash.

Paid $700 for telephone service.

Paid salaries of $2,100 to employees.

Provided services for $2,500 on credit.

Paid $350 for office cleaning service.

Reference no: EM131753038

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