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The following transactions occurred during a recent year Paid wages of $1, 100 for the current period (example) Borrowed $5.600 cash from local bank using a short term note Purchased $2.200 of equipment on credit Famed $440 of sates revenue collected cash Received $880 of utilities services, on credit Famed $1, 870 of service revenue on credit Paid $330 cash on account to a supplier Incurred $7S of travel expenses, paid cash Famed $440 of service revenue collected halt in cash with balance on credit Collected $110 cash from customers on account Incurred $320 of advertising costs, paid half in cash with balance on credit For each of the transactions complete the table below, indicating the account amount and direction of the effect (+ for increase and - for decrease) of each transaction under the accrual basis Include revenues and expenses as subcategories of stockholders equity as shown for the first transaction which is provided as an example Also, determine the company's preliminary net income (Enter any decreases to account balances with a minus sign.) Determine the company's preliminary net income