- Iris Lilly opened a medical practice named DRs, Inc. DRs completed the following transactions during its first month: 1) Lilly invested $260 cash to start her medical practice. The business issued common stock to Lilly. 2) Purchased medical supplies on account totaling $20. 3) Paid monthly office rent of $55. 4) Received $85 cash for services rendered to patients. What is DRs' net income for the first month