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During January 2018, the first month of operations, a consulting firm had following transactions: Issued common stock to owners in exchange for $34,000 cash. Purchased

During January 2018, the first month of operations, a 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 January.

  8. Received a bill for utilities for January 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 January?

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