Below is a list of activities for Purple Cow Incorporated. 1. Provide services to customers on account, $1,600. 2. Pay $400 for current month's rent. 3. Hire a new employee, who will be paid $500 at the end of each month. 4. Pay $100 for advertising aired in the current period. 5. Purchase office supplies for $400 cash. 6. Receive cash of $1,000 from customers in (1) above. 7. Obtain a loan from the bank for $7,000. 8. Recelye a bill of $200 for utility costs in the current period. 9. Issue common stock for $10,000 cash. 10. Pay $500 to employee in (3) above. Required: Prepare a pricliminary income statement for the month of April