Linda Repair Inc. was started on May 1. A summary of May transactions is presented below.

1.

Stockholders invested $8,400 cash in the business in exchange for common stock.

2.

Purchased equipment for $4,200 cash.

3.

Paid $336 cash for May office rent.

4.

Paid $252 cash for supplies.

5.

Incurred $210 of advertising costs in the Beacon News on account.

6.

Performed repair services for customer for $3,948 cash.

7.

Paid a $588 cash dividend.

8.

Paid part-time employee salaries $840.

9.

Paid utility bills $118.

10.

Performed repair services worth $924 on account.

11.

Collected cash of $100 for services billed in transaction (10).

From an analysis of the Retained Earnings columns, compute the net income or net loss for May.

Net Income for May

$$$$$$ in dollars