Jaxson McCormick opened McCormick's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books:1. McCormick's invested $26,000 cash in the business in exchange for common stock. 2. McCormick's contributed $101,000 of equipment to the business. 3. The company paid $2100 cash to rent office space for the month of March. 4. The company received $17,000 cash for repair services provided during March. 5. The company paid $6300 for salaries for the month of March. 6. The company provided $3100 of services to customers on account. 7. The company paid cash of $600 for utilities for the month of March. 8. The company received $3200 cash in advance from a customer for repair services to be provided in April. 9. The
company paid Jackson $5100 cash as a dividend. Based on this information, net income for March would be:
A. $14,400.
B. $5400.
C. $11,100.
D. $8300.
E. $14,500.
Answer: C
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