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 6,500 30, 400 1,500 9,900 7,500 26,900 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,100 2,940 48,000 1,720 6,880 14,060 a. Rebuilt and delivered five pianos in January to customers who paid $19,000 in cash. b. Received a $580 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; received $870 for rent in January. d. Received $8,100 from customers as payment on their accounts. e. Received an electric and gas utility bill for $470 to be paid in February. f. Ordered $910 in supplies. g. Paid $2,040 on account in January. h. Received from the home of Stacey Eddy, the major shareholder, a $990 tool (equipment) to use in the business in exchange for 110 shares of $1 par value stock. i. Paid $14,300 in wages to employees who worked in January. j. Declared and paid a $2,000 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (f). 4. What is net income if Stacey's used the cash basis of accounting? Net income