I just need the net income and the stockholder's equity.

2. Stockholders' equity is the right of stockholders (owners) to the assets of the business. These rights are by issuing common stock and revenues and dividends and expenses. 3. Determine the net income for April. X 4. How much did April's transactions increase or decrease stockholders' equity? by$x Feedback T Check My Work 1. Review Transactions (a) to (h) summarized on Exhibit 5 in the text. Recall that the effect of every transaction must modify the accounting equation, yet cause it to remain in balance overall. 2. Stockholders' equity represents the rights of stockholders. It is important to consider the impact additional investments, net income or net loss, and dividends may have on the equity. 3. Net income is the excess of revenues over expenses. 4. Beginning Retained earnings + Net income - Dividends = Ending Retained earnings. Transactions a. Opened a business bank account with a deposit of $60,000 in exchange for common stock. b. Purchased office supplies on account, $1,800. c. Received cash from fees earned for managing rental property, $22,300. d. Paid rent on office and equipment for the month, $7,000. e. Paid creditors on account, $1,100. f. Billed customers for fees earned for managing rental property, $3,600. g. Paid automobile expenses for month, $750, and miscellaneous expenses, $1,000. h. Paid office salaries, $4,000. i. Determined that the cost of supplies on hand was $250; therefore, the cost of supplies used was $1,550. j. Paid dividends, $5,000. Required