During January 2020, the first month of operations, a consulting firm had the following transactions: 1. Issued common stock to owners in exchange for $28,000 cash. 2. Purchased $7,000 of equipment, paying $1,400 cash and signing a promissory note for $5,600. 3. Received $12,600 in cash for consulting services performed in January. 4. Purchased $2,100 of supplies on account; all of the supplies were used in January. 5. Provided consulting services on account in the amount of $22,400. 6. Paid $1,050 on account. 7. Paid $4,200 to employees for work performed during January. 8. Received a bill for utilities for January of $4,750; the bill remains unpaid. What is the amount of total revenue to be reported on the income statement for the month of January? Multiple Choice $35,000 $40,600 $63,000 Next >