The following transactions occurred during a recent year:

.a Paid wages of $1,700 for the current period (example).
b. Borrowed $8,500 cash from local bank using a short-term note.
c. Purchased $3,400 of equipment on credit.
d. Earned $680 of sales revenue; collected cash.
e. Received $1,360 of utilities services, on credit.
f. Earned $2,870 of service revenue, on credit.
g. Paid $510 cash on account to a supplier.
h. Incurred $115 of travel expenses; paid cash.
i. Earned $680 of service revenue; collected half in cash, with balance on credit.
j. Collected $190 cash from customers on account.
k. Incurred $480 of advertising costs; paid half in cash, with balance on credit.

Required:
Determine the company’s preliminary net income.