Margie Van Epps established Health Services, P.C., a professional corporation, in March of the current year. Health Services offers healthy living advice to its clients. The effect of each transaction on the balance sheet and the balances after each transaction for March are as follows. Each increase or decrease in stockholders equity, except transaction (h), affects net income.

Statement of Cash Flows	Balance Sheet
	Assets					=	Liabilities	+	Stockholders' Equity
	Cash	+	Accounts Receivable	+	Supplies	=	Accounts Payable	+	Common Stock	+	Retained Earnings
a.	35,000								35,000
b.					1,800		1,800
Balances	35,000				1,800		1,800		35,000
c.	(800)						(800)
Balances	34,200				1,800		1,000		35,000
d.	31,300										31,300
Balances	65,500				1,800		1,000		35,000		31,300
e.	(25,000)										(25,000)
Balances	40,500				1,800		1,000		35,000		6,300
f.					(1,250)						(1,250)
Balances	40,500				550		1,000		35,000		5,050
g.			8,900								8,900
Balances	40,500		8,900		550		1,000		35,000		13,950
h.	(6,000)										(6,000)
Balances	34,500		8,900		550		1,000		35,000		7,950
Statement of Cash Flows									Income Statement
a. Financing	$35,000								d. Fees earned			$31,300
b. Operating	(800)								e. Expenses			(25,000)
d. Operating	31,300								f. Expenses			(1,250)
e. Operating	(25,000)								g. Fees earned			8,900
f. Financing	(6,000)								Net income			13,950
Increase in cash	$34,500

a. Identify each transaction.

a.

b.

c.

d.

e.

f.

g.

h.

b. What is the amount of the net income for March? $