a. Borrowed $870,000 from the bank on December 1, signing a note payable, due in six months. b. Purchased a new snowplow for $27,000 cash on December 31. c. Purchased ski supplies for $18,200 on account. d. Incurred $29,100 in routine maintenance expenses for the chairlifts; paid cash. e. Received $73,750 for season passes (beginning in the new year). f. Daily lift passes were sold this month for a total of $82,200 cash. g. Received a $675 deposit on a townhouse to be rented for five days in January. h. Paid half the charges incurred on account in (c). i. Paid $23,600 in wages to employees for the month of December.

2.	Calculate the companys preliminary net income.