Question 17 of 17 View Policies Current Attempt in Progress 3. 4. Use the business transactions below to! 1 Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation 2 Purchased $500 of supplies on credit. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21.500, note payable. Real estate commissions billed to clients amount to $4,000, 5. Paid $700 in cash for the current month's rent. Paid $250 cash on account for office supplies purchased in transaction 2 Received a bill for $800 for advertising for the current month Pald $2.500 cash for office salaries. Paid $1.200 cash dividends to stockholders. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4 6. 7 8 9 10 (a) (c) Determine what the net income or loss. Net Income loss $ Save for later