Toms Board Rentals was started on January 1, 2019, by Raymond Toms with an investment of $55,000 cash. The company rents out snowboards and related gear from a small store. During the first 11 months, Toms made additional investments of $19,000 and borrowed $46,000 from the bank. He did not withdraw any funds. The balance sheet accounts, excluding Toms's capital account, at November 30, 2019, are as follows: E: (Click icon to view the balance sheet accounts.) The following transactions took place during the month of December 2019: B: (Click icon to view the transactions.) Required Requirement 1. What is the total net income earned by the business over the period of January 1, 2019, to November 30, 2019? (Enter a net loss with parentheses or a minus sign.) The total net income earned by the business was Cash... $ 59,000 Accounts Receivable .. 27,000 Rental Gear .. 48,000 Rental Snowboards ... Store Equipment .... Accounts Payable .... 58,000 48,000 13,000 Note Payable 46,000 Dec. 1 The business paid $6,200 for the month's rent on the store space. 4 The business signed a one-year lease for the rental of additional store space at a cost of $4,400 per month. The lease is effective January 1. The business will pay the first month's rent in January. 6 Rental revenues for the week were: Gear, $4,600; Boards, $16,000. Seventy percent of the fees were paid in cash and the rest on account. 10 The business paid the accounts payable from November 30, 2019. 12 The business purchased gear for $32,000 and boards for $56,000, all on account. 13 Rental revenues for the week were: Gear, $7,600; Boards, $32,000. All the fees were paid in cash. 15 The company received payment for the accounts receivable owing at November 30, 2019. 18 The company purchased store equipment for $16,000 by paying $3,000 cash with the balance due in 60 days. 20 Rental revenues for the week were: Gear, $8,600; Boards, $32,000. Half the fees were paid in cash and half on account. 21 Toms withdrew $7,200. 24 The company paid the balance owing for the purchases made on December 12. 27 Rental revenues for the week were: Gear, $7,400; Boards, $19,000. All the fees were paid in cash. 27 The company received payment for rental fees on account from December 6. 31 The company paid its employees for the month of December. The total wages expense was $11,000. 31 Toms paid the utility bill for the month of December, which was $4,900