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What amount of net income would orion record for may

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Orion, Inc. has the following transactions during the month of May:

May 1: Prepaid three months of rent for $12,000, covering May through July.
May 5: Collected $47,000 payment in advance for services to be performed. $25,000 of service is performed in May and the rest in June.
May 18: Performed $8,500 of services, receiving $2,000 now and billing client for remainder.
May 25: Received $900 from client billed on May 18.
May 30: Received utility bill for May of $7,000; will pay in June.

Question 1: What amount of Net Income would Orion record for May?

Reference no: EM132538885

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