The Graves Corporation started operations in March and had the following transactions: Owners invested $8,000 to start company 1 Paid $1,200 rent for administrative offices Provided services to customer who paid $550 12 Obtained a bank loan of $2,000 26 Received and paid utility bill for $125 30 Paid administrative employee payroll of $3.400 NOTE: These transactions are really a review of those we have already done in Chapter 1 and 2 and do not include any accruals or deferrals from Chapter 3. Incorrect Question 1 0/2 pts As a result of the information above, what is the company's net income for March? Hint: To help answer this question (and the next), first, setup an accounting framework and record the transactions above and then use that information to prepare an income statement and balance sheet. 330.0 Incorrect Question 2 0/3 pts What is the company's cash balance at the end of March