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Exercise $2\mathrm{.}9($Algo$)$ Computing net income or net loss. LO $2-4$

$1$ points

On December $1,$ Vincent Nguyen opened a speech and hearing clinic. During December, his firm had the following transactions involving revenue and expenses.

Paid $$2,200$ for advertising.

Provided services for $$1,900$ in cash.

Paid $$620$ for telephone service.

Paid salaries of $$1,700$ to employees.

Provided services for $$2,100$ on credit.

Paid $$270$ for office cleaning service.

Did the firm earn a net income or incur a net loss for the period? What was the amount?