Anya and Nick Ramon, local golf stars, opened the Ivanhoe Driving Range on March 1, 2022, by investing $25,700 of their cash savings in the business. Equipment was purchased with cash for $8,470. The Ramons leased five acres of land at a cost of $900 per month and paid the first month's rent. During the first month, advertising costs totaled $700, of which $160 was unpaid at March 31, and $390 was paid to members of the high-school golf team for retrieving golf balls. All revenues from customers were deposited in the company's bank account. On March 15, Anya and Nick withdrew a total of $850 in cash for personal living expenses. A $120 utility bill was received on March 31 but was not paid. On March 31, the balance in the company's bank account was $18,100. Anya and Nick thought they had a pretty good first month of operations, but their estimates of profitability ranged from a loss of $7,600 to net income of $590. Answer the following