ABC Company had the following balances at the beginning of the accounting period: Common Stock $8,800 Retained Earnings $1,930 ABC Company had the following transactions during the accounting period: (assume all transactions are cash transactions) Issued Common Stock $2,640 Paid Cash Dividends $200 Purchased Land $700 Incurred Operating Expenses $1,500 Borrowed Cash from the Bank $300 Performed Services for Customers $2,200 What value would be reported for Net Income for this accounting period? $700 $1.930 @$900 $500