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 $ 6,600 30,200 1,450 9,800 7,700 26,700 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings $ 9, 100 3,740 47,300 1,620 6,480 14,210 a. Rebuilt and delivered five pianos in January to customers who paid $19,400 in cash. b. Received a $510 deposit from a customer who wanted her piano rebuilt c. Rented a part of the building to a bicycle repair shop: received $890 for rent January d. Received $7,900 from customers as payment on their accounts. e. Received an electric and gas utility bill for $450 to be paid in February f. Ordered $950 in supplies. g. Paid $1,640 on account in January. h. Received from the home of Stacey Eddy, the major shareholder, a $920 tool (equipment) to use in the business in exchange for 110 shares of $1 par value stock i. Paid $14,500 in wages to employees who worked in January j. Declared and paid a $1.600 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (n. E3-10 Part 1 and 2 Required: 1 & 2. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the reference. Cash Accounts Receivable Beg. Bat. | Beg. Bal End. Bal. End. Bal. Supplies Equipment Beg. Bal Beg. Bal End. Bal. End. Bal. Land Building Beg. Bal. Beg. Bal End. Bal. End. Bal. Accounts Payable Unearned Revenue Beg. Bat. | Beg. Bal End. Bal. End. Bal. Long-term Note Payable Common Stock Beg. Bal Beg. Bal End. Bal End. Bal. Additional Paid in Capital Retained Earnings Beg. Bal | Beg. Bal. End. Bal. End. Bal. Rebuilding Fees Revenue Rent Revenue Beg. Bal Beg. Bal End. Bal. End. Bal. Wages Expense Utilities Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: Revenues - Expenses = Net income Assets = Liabilities + Stockholders' equity What is net income if Stacey's used the cash basis of accounting? Net income