The following information applies to the questions displayed below) During January 2015, the first month of operations, a consulting firm had following transactions: Issued common stock to owners in exchange for $46,000 cash. Purchased $11, 500 of equipment, paying $3, 450 cash and signing a promissory note for $8, 050. Received $20700 in cash for consulting services performed in January. Purchased $3.450 of supplies on account all of the supplies were used in January. Provided consulting services on account in the amount of $36, 800. Paid $1, 725 on account. Paid $6, 900 to employees for work performed during January. Received a bill for utilities for January of $7.800; the bill remains unpaid. What is subtotal of expenses that will be reported on the income statement for the month ended January 31? $10.350 $18.150. $8625 $19.875