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Regent Plumbing Corporation provides plumbing services. Selected transactions of Regent Plumbing Corporation are described as follows: a) Received $8,000 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 $8,000 cash and issued common stock to Sharon Regent b) Paid $4,000 cash for equipment to be used for plumbing repairs. c) Borrowed $9,000 from a local bank and deposited the money in the checking account d) Paid $900 rent for the year e) Paid $500 cash for plumbing supplies to be used next year. f) Completed a plumbing repair project for a local lawyer and received $6,000cash. Calculate the net income. Assume plumbing supplies of $500 are left at the end of the accounting period A. $5,100 B. $6.000 C. $400 D. $5,500

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