Based on the following transactions, answer the following questions.

i$.$ Purchased inventory with a cost of $$24,800$ on account.

ii$.$ Sales on account to customers totalled $$57,800.$

iii. Payments made to employees for wages totalled $$17,700.$

iv$.$ Cash collections from customers settling their accounts totalled $$41,700.$

v$.$ Invoice received from the utility company for $$3,800$ is due in $30$ days.

vi$.$ Payments totalling $$16,900$ were made to suppliers to settle part of the balance owing to them.

vii. Received a deposit of $$2,200$ from a customer for goods to be delivered next month. Calculate the revenue,expenses and net income