b135 Use the business transactions below to: 1. 2. 3. 4. 5. Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation. Purchased $500 of supplies on credit. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21.500, note payable. Real estate commissions billed to clients amount to $4,000. Paid $700 in cash for the current month's rent. Paid $250 cash on account for office supplies purchased in transaction 2. Received a bill for $800 for advertising for the current month. Paid $2,500 cash for office salaries. Paid $1,200 cash dividends to stockholders. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4 6. 7. 8. 9. 10. Determine what the net income or loss, Net Income/loss $