LO $3\mathrm{.}5$ Calculate Net Income for the month assuming Cash Basis of Accounting.

The business is started by receiving cash from an investor in exchange for Common

Stock

The business purchases Supplies on account, noe of the Supplies are used this month

$\backslash$table$[[$The business purchases Furniture on Account,$],[$The business provides services to various clients $"$on account:,$],[$The business pays salaries for this month,$],[$The business pays this month's rent,$],[\backslash$table$[[$The business collects money from various clients for services performed earlier in the$],[$month$]],],[$Net Income,$]]$