Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred: 1. Jackson invested $43,000 cash in the business in exchange for common stock. 2. Jackson contributed $118,000 of equipment to the business. 3. The company paid $3,800 cash to rent office space for the month of March 4. The company received $34,000 cash for repair services provided during March. 5. The company paid $8,000 for salaries for the month of March. 6. The company provided $4,800 of services to customers on account. 7. The company paid cash of $2,300 for utilities for the month of March. 8. The company received $4,900 cash in advance from a customer for repair services to be provided in April. 9. The company paid $6,800 in cash dividends. Based on this information, net income for March would be: Multiple Choice O $24,700 O $31,400 $7.100 O $31,500 O $6,600