What is the Preliminary Net Income?

Feb. 1 Paid $450 for rent of hangar space in February Feb. 4 Received customer payment of $1,730 to ship several items to Philadelphia next month Feb. 7 Flew cargo from Denver to Dallas; the customer paid in full ($1,570 cash) Feb. 10 Paid pilot $2,100 in wages for flying in February Feb. 14 Paid $122 for an advertisement run in the local paper on February 14 Feb. 18 Flew cargo for two customers from Dallas to Albuquerque for $1,945; one customer paid $505 cash and the other asked to be billed $1,440 Feb. 25 Purchased on account $1,390 in supplies for future use on the planes Required: 1. Prepare accrual basis journal entries for each transaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet 0 Date General Journal Debit Credit Feb 01Rent Expense 450 Cash 450 Feb 04 Cashh 1,730 Delivery Expense 1,730 Feb 07 Cashh 1,570 Delivery Expense 1,570 4 Feb 10Salaries and Wages Expense 2,100 Cash 2,100 122 Feb 14Advertisig Expense Cash 122 Feb 18 Cashh 505 Delivery Expense Accounts Receivable 1,945 1,440 Feb 25 Supplies 1,390 2. Calculate the company's preliminary net income Preliminary Net Income