On April 1, Barbara Jones established Jones's Travel Agency. The following transactions were completed during the month. 1. Invested $16,000 cash to start the agency. 2. Paid $600 cash for April office rent. 3. Purchased equipment for $2,800 cash. 4. Incurred $800 of advertising costs in the Chicogo Tribune, on account. 5. Paid $800 cash for office supplies. 6. Performed services worth $11,000:$2,600 cash is received from customers, and the balance of $8,400 is billed to customers on account. 7. Withdrew $400 cash for personal use. 8. Paid Chicogo Tribune $600 of the amount due in transaction (4). 9. Paid employees' salaries $2,800. 10. Received $5,400 in cash from customers who have previously been billed in transaction (6). From an analysis of the owner's equity columns, compute the net income or net loss for April. On April 1, Barbara Jones established Jones's Travel Agency. The following transactions were completed during the month. 1. Invested $16,000 cash to start the agency. 2. Paid $600 cash for April office rent. 3. Purchased equipment for $2,800 cash. 4. Incurred $800 of advertising costs in the Chicogo Tribune, on account. 5. Paid $800 cash for office supplies. 6. Performed services worth $11,000:$2,600 cash is received from customers, and the balance of $8,400 is billed to customers on account. 7. Withdrew $400 cash for personal use. 8. Paid Chicogo Tribune $600 of the amount due in transaction (4). 9. Paid employees' salaries $2,800. 10. Received $5,400 in cash from customers who have previously been billed in transaction (6). From an analysis of the owner's equity columns, compute the net income or net loss for April