A AlC Company had the followine transactions in Yeat 1. * 15 sued common steck for $100 - Larned $700 of semblee revemuer. Hall was paid in cash, the other hais was silld or account. - AfC Co, incurted $30 af operating expenses an account. - ABCCa pald $20 of the accounts payable. - ABC Co, purchased $300 of equipment in cash. What amount of Net income will ABC Company report on the Year 1 Incorne Statemenk? $27a $330 5620 sin20