Nelson Company experienced the following transactions during Year 1, its first year in operation. 1. Acquired $8,000 cash by issuing common stock. 2. Provided $4,300 of services on account. 3. Paid $2,100 cash for operating expenses. 4. Collected $2,900 of cash from customers in partial settlement of its accounts receivable. 5. Paid a $200 cash dividend to stockholders. What is the amount of net income that will be reported on the Year 1 income statement? Multiple Choice O $1,400 $2,000. $1,600 $2,200. by