Joe jackson opened jackson's repairs, inc. on march 1 of the current year. during march, the following transactions occurred and were recorded in the company's books: 1. jackson invested $25,000 cash in the business.2. jackson contributed $100,000 of equipment to the corporation.3. the company paid $2,000 cash to rent office space for the month.4. the company received $16,000 cash for repair services provided during march.5. the company paid $6,200 for salaries for the month.6. the company provided $3,000 of services to customers on account.7. the company paid cash of $500 for monthly utilities.8. the company received $3,100 cash in advance of providing repair services to a customer. based on this information, net income for march would be: