From an analysis of the owner's equity columns, compute the net income or net loss for April SMITH'S TRAVEL AGENCY Income Statement For the Month Ended April 30, 2017 April 30, 2017 For the Year Ended April 30, 2017 $ On April 1, Mary Smith established Smith's Travel Agency. The following transactions were completed during the month. 1 2. 3. 4. 5. Invested $13,000 cash to start the agency. Paid $500 cash for April office rent. Purchased equipment for $2,000 cash. Incurred $600 of advertising costs in the Chicago Tribune, on account. Paid $500 cash for office supplies. Performed services worth $10,000: $2,500 cash is received from customers, and the balance of $7,500 is billed to customers on account Withdrew $400 cash for personal use. Paid Chicago Tribune $400 of the amount due in transaction (4). Paid employees' salaries $2,000. Received $4,500 in cash from customers who have previously been billed in transaction (6). 6. 7. 8. 9. 10