Nelson Company experienced the following transactions during Year 1, its first year in operation. Issued $6,600 of common stock to stockholders Provided $2,900 of services on account Paid $1,750 cash for operating expenses Collected $2,200 of cash from accounts receivable Paid a $130 cash dividend to stockholders What is the net income that will be reported for Year 1? Question 8 options: $700 $830 $1,020 $1,150