The Farmer Company had the following transactions for the month: 1st Owner's invested $20,000 to start the company 1st Purchased equipment for $9,720; management expects it will be useful for 6 years at which time it should be worthless. 1st Paid administrative rent on office space of $1,750 15th Performed $3,000 of services for customers 30th Received a $200 utility bill; will be paid next month What is the company's net income for the month