On April 1, Maria Miller established Miller'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 $3,500 cash. 4. Incurred $700 of advertising costs in the Chicago Tribune, on account 5. Paid $800 cash for office supplies 6. Performed services worth $11,000: $3,500 cash is received from customers, and the balance of $7,500 is billed to customers on account. 7. Withdrew $500 cash for personal use. 8. Paid Chicago Tribune $500 of the amount due in transaction (4). 9. Paid employees' salaries $2,800. 10. Received $4,500 in cash from customers who have previously been billed in transaction (6). Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) MILLER'S TRAVEL AGENCY Assets Liabilities Owner's Equity Accounts Accounts Owner's Owner's Cash Receivable + Supplies Equipment - Payable Capital Drawings Revenues Expenses + $ 3. 5. 6. From an analysis of the owner's equity columns, compute the net income or net loss for April. MILLER'S TRAVEL AGENCY Income Statement Chwork