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possible Regent Plumbing Corporation provides plumbing services. Selected transactions of Regent Plumbing Corporation are described as follows: a) Received $6,000 cash and issued common
possible Regent Plumbing Corporation provides plumbing services. Selected transactions of Regent Plumbing Corporation are described as follows: a) Received $6,000 cash and issued common stock to Sharon Regent. b) Paid $6,000 cash for equipment to be used for plumbing repairs. c) Borrowed $12,000 from a local bank and deposited the money in the checking account. d) Paid $900 rent for the year. e) Paid $500 cash for plumbing supplies to be used next year. f) Completed a plumbing repair project for a local lawyer and received $3,000 cash. Calculate the net income. Assume plumbing supplies of $500 are left at the end of the accounting period. OA. $3,000 OB. $2,500 OC. $400 D. $2,100
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