I'm stuck on number 6. I have made it all the way up until that part but can not go any further because Im not sure where the numbers go. How do I split up number 6 so that the equation is still balanced on both sides?

Analyze transactions and compute net income.

• 1.Invested $15,000 cash to start the agency.
• 2.Paid $600 cash for April office rent.
• 3.Purchased equipment for $3,000 cash.
• 4.Incurred $700 of advertising costs in theChicago Tribune,on account.
• 5.Paid $900 cash for office supplies.
• 6.Performed services worth $10,000: $3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account.
• 7.Withdrew $600 cash for personal use.
• 8.PaidChicago Tribune$500 of the amount due in transaction (4).
• 9.Paid employees' salaries $2,500.
• 10.Received $4,000 in cash from customers who have previously been billed in transaction (6).

Check figuresprovide a key number to let you know you are on the right track.

Instructions

a.Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner's Capital, Owner's Drawings, Revenues, and Expenses.

a.Total assets $20,800

b.From an analysis of the owner's equity columns, compute the net income or net loss for April.

b.Net income $6,200