Compute net income for May based on the following transactions:

May 1	paid $2,550 for May's rent.
May 14	paid $1,550 for two weeks wages.
May 15	performed $5,550 in consulting service on account.
May 17	billed a customer $1,850 for services performed May 16.
May 20	received $5,550 in payment for May 15 transaction.
May 22	performed services and immediately collected $2,350.
May 31	paid $850 for advertising in the local paper to take place in June.