Jaxson McCormick Opened McCormick's Repairs on March 1 of the Current

Multiple Choice

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 invested $25,000 cash in the business in exchange for common stock.
2.McCormick contributed $100,000 of equipment to the business.
3.The company paid $2,000 cash to rent office space for the month of March.
4.The company received $16,000 cash for repair services provided during March.
5.The company paid $6,200 for salaries for the month of March.
6.The company provided $3,000 of services to customers on account.
7.The company paid cash of $500 for utilities for the month of March.
8.The company received $3,100 cash in advance from a customer for repair services to be provided in April.
9.The company paid Jackson $5,000 cash as a dividend.
Based on this information,net income for March would be:

A) $10,300.
B) $13,400.
C) $5,300.
D) $8,400.
E) $13,500.