A business has the following transactions:

• The business is started by receiving cash from an investor in exchange for common stock $20,000

• The business purchases supplies on account $500

• The business purchases furniture on account $2,000

• The business renders services to various clients on account totaling $9,000

• The business pays salaries $2,000

• The business pays this month’s rent $3,000

• The business pays for the supplies purchased on account.

• The business collects from one of its clients for services rendered earlier in the month $1,500.

What is total income for the month?