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Kylo Ren, Inc. had the following events on December 1, 20X1: Prepaid 6 months' rent, $840. Paid $307 for supplies (no supplies were on
Kylo Ren, Inc. had the following events on December 1, 20X1: Prepaid 6 months' rent, $840. Paid $307 for supplies (no supplies were on hand at the time of the purchase). Collected cash from its subscribers for online content to be provided evenly over the next 6 months, $2,400. On December 31, 20X1, Kylo Ren, Inc. recorded the necessary adjusting entries for these transactions in advance of preparing its monthly financial statements. A physical count on 12/31/X1 indicated that $247 of supplies were on hand. Kylo Ren provided its subscribers with content as planned during December. If these were the only transactions for Kylo Ren, Inc., what amount of net income would Kylo Ren show on its income statement for the month ended 12/31/X1? Please enter your answer as a whole number without a dollar sign (e.g., 100).
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