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At the end of the first month of operations for Fieldstone's Catering Service, the business...

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Accounting

At the end of the first month of operations for Fieldstone's Catering Service, the business had the following accounts. Cash, $19750. Prepaid Rent. $500 Equipment, $7.500 and Accounts Payable $4,000. By the end of the month, Fieldstone's had earned $36,500 of Revenues, and used $2.150 of Utilities Expenses, $4.750 of Rent Expense and $3.800 of Salaries Expenses. Calculate the net income to be reported by the company for this first month

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