Item 8

Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurred:

1. Jackson invested $35,000 cash in the business.
2. Jackson contributed $110,000 of equipment to the business.
3. The company paid $3,000 cash to rent office space for the month of March.
4. The company received $26,000 cash for repair services provided during March.
5. The company paid $7,200 for salaries for the month of March.
6. The company provided $4,000 of services to customers on account.
7. The company paid cash of $1,500 for utilities for the month of March.
8. The company received $4,100 cash in advance from a customer for repair services to be provided in April.
9. Jackson withdrew $6,000 for his personal use from the company.

Based on this information, net income for March would be: