preliminary net income with this information

The following transactions occurred during a recent year:

a.	Paid wages of $1,550 for the current period (example).
b.	Borrowed $7,750 cash from local bank using a short-term note.
c.	Purchased $3,100 of equipment on credit.
d.	Earned $620 of sales revenue; collected cash.
e.	Received $1,240 of utilities services, on credit.
f.	Earned $2,620 of service revenue, on credit.
g.	Paid $465 cash on account to a supplier.
h.	Incurred $105 of travel expenses; paid cash.
i.	Earned $620 of service revenue; collected half in cash, with balance on credit.
j.	Collected $170 cash from customers on account.
k.	Incurred $440 of advertising costs; paid half in cash, with balance on credit.

Assets Liabilities Stockholders' Equity Salaries and Wages Expense (1,550) a. Cash (1,550) 7,750 3,100 620 e Payable (short-term) 7,750 3,100 C. nts Payable Sales Revenue 620 nts Payable 1,240 tilities Expense (1,240) (465) (105) 310 nts Payable (465) (105) 620 h. ravel Expense nts Receivable Service Revenue nts Receivable (170) (220) nts Payable 220 rtising Expense (440)