(b) Net income 3,870 is called Service Revenue. (b) From an analysis of the Retained Earnings columns, compute the net income or net Analyze transactions and prepare income statement, retained earnings statement, and statement of financial position. loss for May. P1-2A On August 31, 2017, the statement of financial position of Donahue Veterinary Clinic Ltd. showed Cash 9,000, Accounts Receivable 1,700, Supplies 600, Equipment 6,000, Accounts Payable 3,600, Share Capital-Ordinary 13,000, and Retained Earm- ings 700. During September, the following transactions occurred (LO 6, 7, 8) 1. Paid 2,900 cash for accounts payable due. 2. Collected 1,300 of accounts receivable. 3. Purchased additional equipment for 2,100, paying 800 in cash and the balance on account. 4. Recognized revenue of 7,300, of which 2.500 is collected in cash and the balance is due in October 5. Declared and paid a 400 cash dividend. 6. Paid salaries 1,700, rent for September 900, and advertising expense 200. 7. Incurred utilities expense for month on account 170 8. Received 10,000 from Capital Bank on a 6-month note payable