During February 2020, the first month of operations, Vaughn Consulting firm had following transactions: 1. Issued common stock to owners in exchange for $34,000 cash. 2. Purchased $8,500 of equipment, paying $2,550 cash and signing a promissory note for $5,950. 3. Received $15,300 in cash for consulting services performed in January 4. Purchased $2,550 of supplies on account; all of the supplies were used in January. 5. Provided consulting services on account in the amount of $27,200. 6. Paid $1,275 on account. 7. Paid $5,100 to employees for work performed during February. 8. Received a bill for utilities for February of $5,800; the bill remains unpaid. What is the amount of total revenue to be reported on the income statement for the month of February? Multiple Choice $76,500 $49,300 O $15,300 O $42,500