Melodys Piano School operations for the month of May were limited to the following transactions:

	Provided $1,100 of piano lessons to students who paid in cash.
	Provided $860 of piano lessons on account.
	Collected $645 from students who took piano lessons during April.
	Paid Aprils piano rental bill of $475.
	Received Mays piano rental bill of $525 and set it aside for payment in June. What is Melody's Net Income for May using the accrual basis of accounting? $1,980 $1,435 $1,270 $645