Handyman Services was founded on January 1 and entered into the following transactions during January:

Issued common stock of $30,000 in exchange for cash.

Purchased an old warehouse for $50,000 by issuing notes payable.

Purchased a truck for $15,000 cash.

Purchased shop supplies for $5,000 on account.

Provided services of $15,325, receiving $12,200 in cash.

Paid $1,000 for local advertising for January.

Received payment of $3,125 from customers in #5.

Paid $4,000 on open account from #4.

Paid dividends of $1,000 to stockholders.

Paid employee salaries of $4,000 for January.

Billed customers $3,500 for services provided during January.

Paid $100 interest on notes payable.

Required:

a. Show the effects of each transaction on the accounting equation by preparing a tabular analysis using the following column headings: Cash, Accounts Receivable, Supplies, Property and Equipment, Accounts Payable, Notes Payable, Common Stock, Retained Earnings.

	Assets							=	Liabilities			+	Equity
			Accounts				Prop. &		Accounts		Notes		Common		Retained
	Cash		Receivable		Supplies		Equip.	=	Payable		Payable		Stock		Earnings
1.	$							=					$
2.							$	=			$
3.	$						$	=
4.					$			=	$
5.	$		$					=							$
6.	$							=							$
7.	$		$					=
8.	$							=	$
9.	$							=							$
10.	$							=							$
11.			$					=							$
12.	$							=							$
Total	$	+	$	+	$	+	$	=	$	+	$	+	$	+	$
	$							=	$

b. Calculate Handyman's net income for the month of January.

I can not calculate the net income under 12B.