Step by step solution with clear hand writing

on 20 ered ed out of Ahmad deposited $8,000 into a new checking account for his new business and recorded the capital contribution. - Paid $5,000 cash for equipment to be used for plumbing repairs. Borrowed $10,000 from a local bank and deposited the money in the checking account. - Paid $1,100 rent for the year. lag estion Paid $300 cash for plumbing supplies to be used in future. - Completed a plumbing repair project for a local lawyer and received $4,000 cash. 25 Calculate the net income. Select one: Finis $3,200 Time O $2,900 $4,000 O $1,100 O $3,700