Sweet Catering completed the following selected transactions during May 2016:
- May 1: Prepaid rent for three months, $2,700
- May 5: Received and paid electricity bill, $220
- May 9: Received cash for meals served to customers, $3,230
- May 14: Paid cash for kitchen equipment, $2,160
- May 23: Served a banquet on account, $1,800
- May 31: Made the adjusting entry for rent (from May 1).
- May 31: Accrued salary expense, $2,910
- May 31: Recorded depreciation for May on kitchen equipment, $50
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.