Can you work out the math for me / explaine how to solve?

ABC Company provided its clients $12,000 of accounting services during the month, of which $10,000 was paid in cash and $2,000 was charged on account. ABC Company incurred expenses totaling $7,000, of which $3,000 was paid in cash and $4,000 was charged on account. Using the accrual basis of accounting, what was ABC Companys net income for the month? $3,000 $5,000 ANSWER $7,000 $8,000

One step of the operating cycle is a company purchasing and paying for inventory. In service businesses, what common expenditure replaces this step? A service company purchases raw materials and manufactures finished goods. A service company purchases supplies, rather than inventory, to resell to customers. A service company pays employees to serve customers. ANSWER

A service company pays suppliers in cash rather than charging on account. ABC Company had a balance in its Supplies account of $2,200 at the beginning of the month. ABC Company purchased $700 of office supplies on account during the month. At the end of the month, the Supplies account on ABC Companys Balance Sheet shows a $1,200 balance. What was the dollar value of supplies used during the month? $500 $1,000 $1,700 ANSWER The amount of supplies used cannot be determined based on the information provided.