Kilgore Company experienced the following events during its first accounting period.$(1)$ Issued common stock for $$6,700$ cash.$(2)$ Earned $$4,700$ of cash revenue.$(3)$ Paid $$5,700$ cash to purchase land.$(4)$ Paid cash dividends amounting to $$485.(5)$ Paid $$2,370$ of cash expenses.Based on this information the amount of net income is:

Multiple Choice

$$2,370.$

$$1,165$

$.$$$2,330.$

$$4,740.$