Financial Accounting: P1-1A Barone's Repair Inc. was started on May 1

Financial Accounting
P1-1A
Barone's Repair Inc. was started on May 1. A summary of May transactions is presented below.
1 Stockholder's invested $10,000 cash to start the repair company.
2 Purchased equipment for $5,000 cash.
3 Paid $400 cash for May office rent.
4 Paid $500 cash for supplies.
5 Incurred $250 of advertising costs in the Beacon News on account.
6 Received $5,100 cash from customers for repair service.
7 Paid dividends of $1,000 cash.
8 Paid part-time employee salaries $2,000.
9 Paid utility bills $140.
10 Provided repair service on account to customers $750.
11 Collected cash of $120 for services billed in transaction (10).

Instructions
(a) Complete the table below. (Show the amount of increase or decrease for each transaction using a + for an increase (+500) and a - for a decrease (-500) and a 0 for no change. Please do not leave any fields blank.)
(b) From an analysis of the retained earnings column, compute the net income or net loss for May. (For negative numbers use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)
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