Quick Cleaners, Incorporated (QCI), has been in business for several years. It specializes in cleaning houses but has some small business clients as well.

1. Issued $25,000 of QCI stock for cash.
2. Incurred $600 of utilities costs this month and will pay them next month.
3. Incurred and paid wages for the current month, totaling $2,000.
4. Performed cleaning services on account worth $2,800.
5. Some of Quick Cleanerss equipment was repaired at a total cost of $150. The company paid the full amount at the time the repair work was done.

Required:

Prepare journal entries for the above transactions, which occurred during a recent month.

Determine QCI's preliminary net income.