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II Calculating (4*5points) 1. The taco stand had 1000 in sales, 500 in expenses, paid 200 in dividends, and borrowed 300 from the bank. What is net income for the period? Enter your answer below: 2. A firm engaged in the following transactions. What is net income? a. Borrowed 10000 from the bank, signing a long term note. b. Provided 5000 in service to customers, although only 1000 has been paid. c. Paid 2000 for accounts payable d. Paid 4000 for next year's rent in advance e. Received a bill for this month's phone bill for 1000, but did not pay it. Enter your answer below