Duncan and Oates provides hair cutting services in the local community. In February, the business incurred the following operating costs to cut the hair of 230 clients:
Hair supplies expense............................ $ 805
Building rent expense ............................ 1,150
Utilities.................................................. 184
Depreciation on equipment ................... 46

Duncan and Oates earned $5,200 in revenues from haircuts for the month of February.
Requirements
1. What is the net operating income for the month?
2. What is the cost of one haircut?