Use the Dynamic Exhibit to answer the following questions.

1. When fees earned is $7,500 net income is $______

2. When fees earned is $12,500 cash at November 30 is $______

3. Which version of the exhibit shows a net loss?

a. Fees earned = $12,500

b. Fees earned = $10,000

c. Fees earned = $7,500

d. Fees earned = $4,000

4. True or False: In every version, the net cash flow for the month of November is equal to the cash balance at November 30.