During January 2015, the first month of operations, a consulting firm carried out the following transactions:

1. Issue of common stock to owners in exchange for $34,000 in cash.

2. He bought $8,500 of equipment, paid $2,550 in cash, and signed a promissory note for $5,950.

3.Received $15,300 in cash for consulting services performed in January.

4. Purchased $2,550 of supplies on account; all supplies were used in January.

5. Provided consulting services on account for an amount of $27,200.

6. He paid $1,275 on account.

7.Paid $5,100 to employees for work done during January.

8. You received a January utility bill for $5,800; the invoice remains unpaid.

What is the subtotal of expenses that will be reported on the income statement for the month ending January 31?

Answer rating: 100% (QA)

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