During March, the following transactions occurred: 1. The company paid $2,000 cash to rent office space for the month of March. 2. The company received $16,000 cash for repair services provided during March. 3. The company paid $6,200 for salaries for the month of March. 4. The company provided $3,000 of services to customers on account. 5. The company paid cash of $500 for utilities for the month of March. 6. The company received $3,100 cash in advance from a customer for repair services to be provided in April. 7. The company purchased $5,000 of land for cash. Based on this information, net income for March would be: Multiple Choice $13,500. $13,400