Best Plumbing Company provides plumbing services.Selected transactions of Best Plumbing Company are described as follows:
A.Received a $9,000 cash contribution from the owner,June Sharon.
B.Paid $6,000 cash for equipment to be used for plumbing repairs.
C.Borrowed $9,000 from a local bank and deposited the money in the checking account.
D.Paid $800 rent for the year.
E.Paid $200 cash for plumbing supplies to be used next year.
F.Completed a plumbing repair project for a local lawyer and received $6,000 cash.
Calculate the net income.Assume plumbing supplies of $200 are left.
A) $600
B) $5,800
C) $6,000
D) $5,200
Correct Answer:
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