During March, the following transactions occurred: 1. The company paid $3,400 cash to rent office space for the month of March. 2. The company received $30,000 cash for repair services provided during March. 3. The company paid $7,600 for salaries for the month of March. 4. The company provided $4,400 of services to customers on account. 5. The company paid cash of $1,900 for utilities for the month of March. 6. The company received $4,500 cash in advance from a customer for repair services to be provided in April. 7. The company purchased $6,400 of land for cash. Based on this information, net income for March would be: Multiple Choice $27,500. $27,400. $6,700. $21,500. $7,000