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Ferguson's Computer Repairs, Inc. opened on February 1 of the current year. During February, the following transactions occurred and were recorded in the company's books:
Ferguson's Computer Repairs, Inc. opened on February 1 of the current year. During February, the following transactions occurred and were recorded in the company's books:
- The owner invested $29,000 cash in the business.
- The contributed $59,000 of equipment to the corporation.
- The company paid $1,900 cash to rent office space for the month.
- The company provided $8,700 of services for cash during February.
- The company paid $3,100 for salaries for the month.
- The company provided $3,900 of services to customers on account.
- The company paid cash of $1,700 for monthly utilities.
- The company paid a cash dividend of $800 to the owner.
Based on this information, net income for February would be:
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