1.Invested $13,000cash to start the agency.

2.Paid $600cash for April office rent.

3.Purchased equipment for $2,900cash.

4.Incurred $900of advertising costs in theChicago Tribune,on account.

5.Paid $500cash for office supplies

.6.Performed services worth $11,000: $3,100 cash is received from customers, and the balance of $7,900 is billed to customers on account.

7.Withdrew $500cash for personal use.

8.PaidChicago Tribune$700 of the amount due in transaction (4).

9.Paid employees' salaries $2,900.

10.Received $4,900 in cash from customers who have previously been billed in transaction (6).

tabular analysis

HARRIS'S TRAVEL AGENCY

Assets=Liabilities+Owner's Equity

Cash+AccountsReceivable+Supplies+Equipment=AccountsPayable+Owner'sCapital-Owner'sDrawings+Revenues-Expenses

From an analysis of the owner's equity columns, compute the net income or net loss for April.