Required information (The following information applies to the questions displayed below.) Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building $ 6,900 30,800 1,510 9,700 7,400 27,100 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings $ 8,600 3,540 47,700 1,540 6,160 15,870 a. Rebuilt and delivered five pianos in January to customers who paid $18,400 in cash. b. Received a $570 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; received $840 for rent in January d. Received $7,900 from customers as payment on their accounts. e. Received an electric and gas utility bill for $520 to be paid in February f. Ordered $930 in supplies. g. Paid $1,240 on account in January h. Received from the home of Stacey Eddy, the major shareholder, a $950 tool (equipment) to use in the business in exchange for 120 shares of $1 par value stock. 1. Paid $14,500 in wages to employees who worked in January J. Declared and paid a $2,300 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (). 4. What is net income if Stacey's used the cash basis of accounting? Net income