15) Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred: 15) 1. Jackson invested $25,000 cash in the business in exchange for common stock. 2. Jackson contributed $100,000 of equipment to the business. 3. The company paid $2,000 cash to rent office space for the month of March 4. The company received $16,000 cash for repair services provided during March. 5. The company paid $6,200 for salaries for the month of March 6. The company provided $3,000 of services to customers on account. 7. The company paid cash of $500 for utilities for the month of March company received $3,100 cash in advance from a customer for repair services to be provided in April. 9. The company paid $5,000 in cash dividends. Based on this information, net income for March would be: A) S13,400. B) 55,300. C) S13,500. D) S10,300. E) $8,400