Use the following information to answer the next two questions: During January 2015, the first month of operations, a consulting firm had following transactions: - Issued common stock to owners in exchange for $20,000 cash. - Purchased $5,000 of equipment, paying $1,000 cash and signing a promissory note for $4,000. Received $9,000 in cash for consulting services performed in January. - Purchased $1,500 of supplies on account; all of the supplies were used in January. - Provided consulting services on account in the amount of $16,000. - Paid $750 on account. - Paid $3,000 to employees for work performed during January. - Received a bill for utilities for January of $3,400; the bill remains unpaid. 10. What is the amount of total revenue to be reported on the income statement for the month of January? a. $45,000 b. $9,000 11. What is subtotal of expenses that will be reported on the income statement for the month ended January 31 ? a. $3,750 b. $7,900 c. $8,150 d. $4,500