Threets Repair Shop was started on May 1 by Erica Threet. A summary of May transactions is presented below.

1.		Invested $22,173 cash to start the repair shop.
2.		Purchased equipment for $5,182 cash.
3.		Paid $392 cash for May office rent.
4.		Paid $601 cash for supplies.
5.		Incurred $249 of advertising costs in the Beacon News on account.
6.		Received $5,918 in cash from customers for repair service.
7.		Withdrew $1,082 cash for personal use.
8.		Paid part-time employee salaries $2,041.
9.		Paid utility bills $150.
10.		Provided repair service on account to customers $691.
11.		Collected cash of $118 for services billed in transaction (10).

Instructions (a) Prepare a tabular analysis of the transactions, using the following column headings: Cash, Accounts Receivable, Supplies, Equipment,Accounts Payable,N. Threet, Capital;N. Threet Drawings; Revenues, and Expenses. (b) From an analysis of the owners equity columns, compute the net income or net loss for May.