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Required information [The following information applies to the questions displayed below.) Nelson Company experienced the following transactions during Year 1, its first year in operation 1. Acquired $9,800 cash by issuing common stock. 2. Provided $6,100 of services on account. 3. Paid $2,550 cash for operating expenses. 4. Collected $3,800 of cash from customers in partial settlement of its accounts receivable. 5. Paid a $290 cash dividend to stockholders. What is the amount of net income that will be reported on the Year 1 income statement? Required information [The following information applies to the questions displayed below.) Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Acquired $9,800 cash by Issuing common stock 2. Provided $6,100 of services on account. 3. Paid $2,550 cash for operating expenses. 4. Collected $3,800 of cash from customers in partial settlement of its accounts receivable. 5. Pald a $290 cash dividend to stockholders. What is the amount of net cash flows from operating activities that will be reported on the Year 1 statement of cash flows? Required information [The following information applies to the questions displayed below.) Nelson Company experienced the following transactions during Year 1, its first year in operation 1. Acquired $9,800 cash by issuing common stock. 2. Provided $6,100 of services on account. 3. Paid $2,550 cash for operating expenses. 4. Collected $3,800 of cash from customers in partial settlement of its accounts receivable. 5. Paid a $290 cash dividend to stockholders. What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1 Required information [The following information applies to the questions displayed below.) Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Acquired $9,800 cash by issuing common stock. 2. Provided $6,100 of services on account. 3. Paid $2,550 cash for operating expenses. 4. Collected $3,800 of cash from customers in partial settlement of its accounts receivable, 5. Paid a $290 cash dividend to stockholders. What is the balance of the retained earnings that will be reported on the balance sheet as of December 31, Year 1