1. The following accounts and balances were drawn from the records of Carolina Company on December 31, Year 1:

Cash	$	4,000			Accounts receivable	$	3,400
Dividends	$	2,000			Common stock	$	3,900
Land	$	3,200			Revenue	$	3,200
Accounts payable	$	1,800			Expense	$	2,200

The amount of net income shown on Carolinas Year 1 income statement would amount to:

Multiple Choice

• $2,200.

• $3,200.

• $1,000.

• $200.