At the end of the first month of operations for Jackson's Catering Service, the business had the following accounts: Cash, $20,750; Prepaid Rent, $500: Equipment, $7,500 and Accounts Payable $4,000. By the end of the month, Jackson's had earned $32,900 of Revenues, and used $1870 of Utilities Expenses, $4,150 of Rent Expense and $3,640 of Salaries Expenses. Calculate the net income to be reported by the company for this first month. Multiple Choice $32,900 $26.880 $23,740