ABC Company had the following balances at the beginning of the accounting period: Common Stock $3,200 Retained Earnings $1,140 ABC Company had the following transactions during the accounting period: (assume all transactions are cash transactions) Issued Common Stock Paid Cash Dividends Sold Land Incurred Operating Expenses Paid Principal on Note Payable Performed Services for Customers What value would be reported for Net Income for this accounting period? O $500 -$100 O $1,140 $4,800 $400 $1,000 $600 $400 $500 O -$500 Calculator MC 1 7 4 1 MR CE 8 5 2 MS C 9 6 3 M+ $ 1 600 M- ae % 1/x

ABC Company had the following balances at the beginning of the accounting period: ABC Company had the following transactions during the accounting period: (assume all transactions are cash transactions) What value would be reported for Net Income for this accounting period? $500 $100 $1,140 $500