Regent Plumbing Company provides plumbing services. Selected transactions of Regent Plumbing Company are described as follows: a) Received $7,000 cash from the owner, Sharon Regent, as capital. b) Paid $5,000 cash for equipment to be used for plumbing repairs. c) Borrowed $11,000 from a local bank and deposited the money in the checking account. d) Paid $900 rent for the year. e) Paid $300 cash for plumbing supplies to be used next year. f) Completed a plumbing repair project for a local lawyer and received $5,000 cash. Calculate the net income. Assume plumbing supplies of $300 are left at the end of the accounting period. A. $5,000 B. $4,100 C. $600 D. $4,700