Nelson Company experienced the following transactions during Year $1,$ its first year in operation.

Acquired $$9,600$ cash by issuing common stock.

Provided $$5,900$ of services on account.

Paid $$2,500$ cash for operating expenses.

Collected $$3,700$ of cash from customers in partial settlement of its accounts receivable.

Paid a $$280$ cash dividend to stockholders.

What is the amount of net income that will be reported on the Year $1$ income statement?

Multiple Choice

$$3,400$

$$3,120$

$$2,480$

$$2,200$