Nelson Company experienced the following transactions during Year 1 , its first year in operation. 1. Acquired $6,400 cash by issuing common stock. 2. Provided $2,700 of services on account. 3. Paid $1,700 cash for operating expenses. 4. Collected $2,100 of cash from customers in partial settlement of its accounts receivable. 5. Paid a $120 cash dividend to stockholders. What is the amount of net cash flows from operating activities that will be reported on the Year 1 statement of cash flows? Multiple Choice $880 $400 $1,000 $280