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Regent Plumbing Corporation provides plumbing services. Selected transactions of Regent Plumbing Corporation are described as follows: a) Received $9,000 cash and issued common stock to

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Regent Plumbing Corporation provides plumbing services. Selected transactions of Regent Plumbing Corporation are described as follows: a) Received $9,000 cash and issued common stock to Sharon Regent b) Paid $4,000 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 $600 rent for the year e) Paid $200 cash for plumbing supplies to be used next year 1) Completed a plumbing repair project for a local lawyer and received $3,000 cash. Calculate the net income. Assume plumbing supplies of $200 are left at the end of the accounting period. A. $2,400 OB. $3,000 OC. $400 O D. $2,800

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