At the end of the first month of operations for Angela's Service Company, the business had the following accounts: Prepaid Rent = 500 Accounts Payable = 2,000 Cash = Php19.000 Equipment = 5,000 By the end of the month. Angela's had earned of... Revenues = Php 20.000 Salaries Expenses = 1,500 Calculate the net income to be reported by the company for this first month. Utilities Expenses = 1,000 2. A Law Firm had the following transactions involving revenue and expenses, did the Firm earn a net income or incur a net loss for the period. What was the amount. 1. Paid Php 1. 200, 754.023 for rent 2. Provided services for Php 2, 750, 983 3. Paid Php 250, 063. 08 for telephone service. 4. Provided Services of Php 1. 675, 125.63 to employees 5. paid Php 350, 992.568 for office cleaning Service.