Melody's Piano School operations for the month of May are summarized in the following three transactions: Provided $500 of instruction to students. Of the $500 of instruction provided in May, $400 is collected in cash, and an additional $300 is collected for lessons provided in April. Paid April's piano rental bill of $100. Received May's bill of $150 but did not pay. That is Melody's net income at the end of May based on accrual accounting? 300 350 400 300