The following transactions occurred for X Company in May 2020: Performed services for clients on account Performed services for clients for cash Incurred operating expenses on account Paid salaries to employees Collected cash from accounts receivable Paid cash on accounts payable $8,146 3,980 4,741 1,883 2,053 3,614 What was the net effect of these transactions on May profit? A: $5,502|OB: $7,978|| OC: $11,568 | OD: $16,774| OE: $24,322| OF: $35,266