Required information [The following information applies to the questions displayed below) On September 1, Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $18,000 for 1,800 shares of OCC. On September 8, OCC borrowed $31,500 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $22,000 to acquire computer equipment. On September 15, OCC received $1,200 of supplies purchased on account and, on September 16, paid $1,850 for September rent. Through September 22, OCC provided its customers $9,750 of services, of which OCC collected $7,600 in cash. On September 28, OCC paid $670 for Internet and phone service this month. On September 29, OCC paid wages of $4,900 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $510. This amount will be paid on October 14 through a preauthorized online payment. 3-a. Using your answer to part 1 or 2, calculate OCC's preliminary net income for September. Preliminary Not Income 3-b. Is OCC profitable, based on its preliminary net income? Yes No