On April 1, Michelle Walker established Walkers Travel Agency. The following transactions were completed during the month.

1.		Invested $15,000 cash to start the agency.
2.		Paid $500 cash for April office rent.
3.		Purchased equipment for $3,600 cash.
4.		Incurred $600 of advertising costs in the Chicago Tribune, on account.
5.		Paid $500 cash for office supplies.
6.		Performed services worth $10,000: $2,800 cash is received from customers, and the balance of $7,200 is billed to customers on account.
7.		Withdrew $600 cash for personal use.
8.		Paid Chicago Tribune $400 of the amount due in transaction (4).
9.		Paid employees' salaries $2,800.
10.		Received $4,200 in cash from customers who have previously been billed in transaction (6).

Complete the tabular analysis of the transactions. (If a transaction results in a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)

WALKERS TRAVEL AGENCY
		Assets							=	Liabilities	+	Owners Equity
		Cash	+	Accounts Receivable	+	Supplies	+	Equipment	=	Accounts Payable	+	Owners Capital		Owners Drawings	+	Revenues		Expenses
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
total									=

From an analysis of the owners equity columns, compute the net income or net loss for April.

WALKER'S TRAVEL AGENCY Income Statement $ $ > $