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Sparky Company experienced the following transactions during 2014: A. Issued Common Stock to investors in exchange for $5,000 cash. B. Provided $1,200 of services on account. C. Received $1,000 cash from customer for services to be performed over the next 3 months. D. Purchased $500 of supplies on account. E. Collected $900 of cash from accounts receivable. F. Paid $350 cash on accounts payable. G. Supplies of $200 were used during 2014. H. Completed 75% of the work for customer from transaction "C" above. I. Paid monthly wages of $400 and utilities of $300. The amount of Net Income recognized on Sparky Company's 2014 Income Statement is:

Sparky Company experienced the following transactions during 2014:A. Issued Common Stock to investors in

exchange for $5,000 cash.

B. Provided $1,200 of services on account.

C. Received $1,000 cash from customer for services to be performed over the next 3 months.

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D. Purchased $500 of supplies on account.

E. Collected $900 of cash from accounts receivable.

F. Paid $350 cash on accounts payable.

G. Supplies of $200 were used during 2014.

H. Completed 75% of the work for customer from transaction “C” above.

I. Paid monthly wages of $400 and utilities of $300.

The amount of Net Income recognized on Sparky Company’s 2014 Income Statement is:

 
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