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Your Corporation started a consulting business on january 1, 2021 by issuing $7,000 of common stock, What was net income for the year given the following events? Provided services on account, $25,000. Incurred $12,000 of operating expense on account. Purchased $7,000 of supplies. Paid a cash dividend of $2,000 to the stockholders. Collected $9,000 of the revenue that was previously recorded on account. Performed $11,000 of work for cash. Paid 55,000 of its accounts payable. Recognized 54,000 of supplies expense. 520,000 324,000 319.000 $22.000 531,000